We examine whether firms with greater financial statement complexity are more likely to meet or beat analysts' earnings expectations. We proxy for financial statement complexity using the firm's industry and year adjusted accounting policy disclosure length. Firms with more complex financial...

We examine how analysts' earnings forecast properties vary when accounting information is more difficult to process. Specifically, we investigate whether analysts' forecast properties are associated with traditional real earnings management (REM) measures. We hypothesize and find that analysts'...