Similar Search Results

Forecast Errors in Undisclosed Management Sales Forecasts: The Disappearance of the Overoptimism Bias

Müller, Hans Christian - Düsseldorf Institute for Competition Economics (DICE), … - 2011

disentagle whether and to which extent strategic deception or cognitive biases are resposible for this overoptimism, the present … overpessimistic. I propose that the non-existence of a general bias towards overoptimism is due to the lack of incentives to … consciously overgloss future prospects in undisclosed forecasts and that overpessimism may be a consequence of loss aversion. …

Persistent link: https://www.econbiz.de/10009402039

Managerial reporting, overoptimism, and litigation risk

Laux, Volker; Stocken, Phillip C. - In: Journal of Accounting and Economics 53 (2012) 3, pp. 577-591

depends crucially on the extent of entrepreneurial overoptimism, legal frictions, and the internal control environment. …

Persistent link: https://www.econbiz.de/10010572412

DETERMINANTS OF THE BIAS AND INACCURACY OF MANAGEMENT EARNINGS FORECASTS

Anabila, Andrew A.; Whang, EunYoung - In: Accounting & Taxation 6 (2014) 1, pp. 1-12

The safe harbor provisions have increased over the years, following the Private Securities Litigation Reform Act (PSLRA) of 1996 and the Securities Litigation Uniform Standards Act (SLUSA) of 1998. The objective is to encourage more earnings guidance by managers. However, a number of firms like...

Persistent link: https://www.econbiz.de/10011205460

Management Forecasts, Idiosyncratic Risk, and Information Environment

Kitagawa, Norio; Shin' ya Okuda - Graduate School of Business Administration, Kobe University - 2013

Studies have identified an increase in the level of average stock return volatility. In this paper, we use the management forecast error as a proxy for disclosure quality to investigate the relationship between management forecast errors and idiosyncratic risk, as management forecasts are...

Persistent link: https://www.econbiz.de/10010897011

Industry concentration and corporate disclosure policy

Ali, Ashiq; Klasa, Sandy; Yeung, Eric - In: Journal of Accounting and Economics 58 (2014) 2, pp. 240-264

This study examines the association between U.S. Census industry concentration measures and the informativeness of corporate disclosure policy. We find that in more concentrated industries firms׳ management earnings forecasts are less frequent and have shorter horizons, their disclosure ratings...

Persistent link: https://www.econbiz.de/10011076690

Bundled forecasts in empirical accounting research

Rogers, Jonathan L.; Van Buskirk, Andrew - In: Journal of Accounting and Economics 55 (2013) 1, pp. 43-65

This paper examines “bundled” forecasts, or management earnings forecasts issued concurrently with earnings announcements, which have evolved to become the most common type of management forecast. We describe the econometric problems associated with measuring bundled forecast news and, in...

Persistent link: https://www.econbiz.de/10011043063

Audited financial reporting and voluntary disclosure as complements: A test of the Confirmation Hypothesis

Ball, Ray; Jayaraman, Sudarshan; Shivakumar, Lakshmanan - In: Journal of Accounting and Economics 53 (2012) 1, pp. 136-166

We examine the “confirmation” hypothesis that audited financial reporting and disclosure of managers' private information are complements, because independent verification of outcomes disciplines and hence enhances disclosure credibility. Committing to higher audit fees (a measure of...

Persistent link: https://www.econbiz.de/10011043079

Benchmark for Earnings Performance: Management Forecasts versus Analysts’ Forecasts

Dhole, Sandip; Mishra, Sagarika; Sivaramakrishnan, K. - Deakin University, Faculty of Business and Law, School …

We investigate the incremental information conveyed by management forecast errors over and above the consensus analyst forecast error at the time of earnings announcement. To the extent that analysts rationally revise their forecasts to subsume information contained in management releases, it is...

Persistent link: https://www.econbiz.de/10010665529

Managerial Discretion over Their Initial Earnings Forecasts

Iwasaki, Takuya; Kitagawa, Norio; Shuto, Akinobu - Research Institute for Economics and Business … - 2013

Persistent link: https://www.econbiz.de/10010703372

Consumer Heterogeneity and Paid Search Effectiveness: A Large Scale Field Experiment

Blake, Tom; Nosko, Chris; Tadelis, Steven - National Bureau of Economic Research (NBER) - 2014

Internet advertising has been the fastest growing advertising channel in recent years with paid search ads comprising the bulk of this revenue. We present results from a series of large scale field experiments done at eBay that were designed to measure the causal effectiveness of paid search...

Persistent link: https://www.econbiz.de/10011262794