We examine the decision of firms to list analysts covering their stocks on their corporate websites. We find that an analyst’s experience following the firm increases the likelihood of being listed but other aspects of analyst ability and reputation, such as experience in the profession, All-Star status and forecast accuracy, have no effect on the likelihood. We also find that analysts with mor...

this paper investigates the relationship between earnings management and quality of earnings for the bankrupt and non-bankrupt firms listed in the tehran stock exchange from 2007 to 2012.the earnings quality  is measured by four separate accounting-based earnings attributes: accruals quality, earnings persistence, earnings predictability; earnings and is also examined by testing the relationshi...

This paper presents evidence that when an analyst makes an out-of-consensus forecast of a company's quarterly earnings that turns out to be incorrect, she escalates her commitment to maintaining an out-of-consensus view on the company. Relative to an analyst who was close to the consensus, the out-of-consensus analyst adjusts her forecasts for the current fiscal year's earnings less in the dire...

This study seeks to examine the determinants of revenue manipulation by focusing on factors that have unique implications for revenue. Based on a sample of financial restatements arising from aggressive accounting, I control for general earnings management incentives by comparing revenue restatement firms with non-revenue restatement firms. I predict and find that firms with (i) higher growth p...

company’s value depends on its longterm ability to generate cash to fund value-creating growth and pay dividends to its shareholders. Even so, investment managers commonly base their stock selections on short-term earnings and portfolio tracking error rather than discounted cash flow (DCF)—the standard for valuing financial assets in well-functioning capital markets. Financial analysts fixate o...