The Importance Of Earnings Forecasts, Sales Forecasts, And Cash Flow Forecasts To Stock Price Forecasts
نویسندگان
چکیده
منابع مشابه
Management Earnings Forecasts and Subsequent Price Formation
This paper examines price formation subsequent to management forecasts of quarterly earnings. Consistent with prior studies, we find that the short-term market reaction to bad news forecasts is much larger than that to good news forecasts. Examining returns in the post-guidance period, we find a significant upward drift for both good and bad news forecasts. The asymmetry in the initial market r...
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متن کاملShould Managers Provide Forecasts of Earnings ?
OVERVIEW The issue of whether managers should provide forecasts of earnings has received a large amount of attention in the last few years. While the debate has had input from a variety of sources, the discussion has not drawn on the large amount of empirical research examining management forecasts of earnings. This paper provides a review of that literature, first discussing the benefits of fo...
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Theory suggests that managers issue earnings forecasts to reduce information asymmetry. An earnings forecast is more effective in reducing information asymmetry if it contains earnings news that is relatively more informative about the firm’s value. We hypothesize that a manager is more likely to issue an earnings forecast if investors perceive that earnings are more informative. We measure ear...
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ژورنال
عنوان ژورنال: International Business & Economics Research Journal (IBER)
سال: 2011
ISSN: 2157-9393,1535-0754
DOI: 10.19030/iber.v2i1.3754