Strategy, Valuation, and Forecast Accuracy: Evidence from Italian Strategic Plan Disclosures
Author
Abstract
Suggested Citation
DOI: 10.1080/09638180.2016.1152905
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Bamber, LS & Cheon, YS, 1998. "Discretionary management earnings forecast disclosures: Antecedents and outcomes associated with forecast venue and forecast specificity choices," Journal of Accounting Research, Wiley Blackwell, vol. 36(2), pages 167-190.
- Stephen P. Baginski & John M. Hassell & Michael D. Kimbrough, 2004. "Why Do Managers Explain Their Earnings Forecasts?," Journal of Accounting Research, Wiley Blackwell, vol. 42(1), pages 1-29, March.
- Villalonga, Belen & Amit, Raphael, 2006. "How do family ownership, control and management affect firm value?," Journal of Financial Economics, Elsevier, vol. 80(2), pages 385-417, May.
- Ole‐Kristian Hope, 2003. "Disclosure Practices, Enforcement of Accounting Standards, and Analysts' Forecast Accuracy: An International Study," Journal of Accounting Research, Wiley Blackwell, vol. 41(2), pages 235-272, May.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2000.
"Investor protection and corporate governance,"
Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 3-27.
- Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert Vishny, "undated". "Investor Protection and Corporate Governance," Working Paper 19455, Harvard University OpenScholar.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2000. "Investor protection and corporate governance," Scholarly Articles 29408126, Harvard University Department of Economics.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Schleifer, Andrei & Vishny, Robert, 2001. "Investor Protection and Corporate Governance," Working Paper Series rwp01-017, Harvard University, John F. Kennedy School of Government.
- Larcker, David F. & Rusticus, Tjomme O., 2010. "On the use of instrumental variables in accounting research," Journal of Accounting and Economics, Elsevier, vol. 49(3), pages 186-205, April.
- Frankel, R & Johnson, M & Skinner, DJ, 1999. "An empirical examination of conference calls as a voluntary disclosure medium," Journal of Accounting Research, Wiley Blackwell, vol. 37(1), pages 133-150.
- Amy P. Hutton & Gregory S. Miller & Douglas J. Skinner, 2003. "The Role of Supplementary Statements with Management Earnings Forecasts," Journal of Accounting Research, Wiley Blackwell, vol. 41(5), pages 867-890, December.
- Francis, Jennifer & Douglas Hanna, J. & Philbrick, Donna R., 1997. "Management communications with securities analysts," Journal of Accounting and Economics, Elsevier, vol. 24(3), pages 363-394, December.
- Beyer, Anne & Cohen, Daniel A. & Lys, Thomas Z. & Walther, Beverly R., 2010. "The financial reporting environment: Review of the recent literature," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 296-343, December.
- Leuz, Christian & Nanda, Dhananjay & Wysocki, Peter D., 2003. "Earnings management and investor protection: an international comparison," Journal of Financial Economics, Elsevier, vol. 69(3), pages 505-527, September.
- Andrew J. Leone & Steve Rock & Michael Willenborg, 2007. "Disclosure of Intended Use of Proceeds and Underpricing in Initial Public Offerings," Journal of Accounting Research, Wiley Blackwell, vol. 45(1), pages 111-153, March.
- Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-529, October.
- Vijay Jog & Bruce J. McConomy, 2003. "Voluntary Disclosure of Management Earnings Forecasts in IPO Prospectuses," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 30(1-2), pages 125-168.
- Feng Gu & John Q. Li, 2007. "The Credibility of Voluntary Disclosure and Insider Stock Transactions," Journal of Accounting Research, Wiley Blackwell, vol. 45(4), pages 771-810, September.
- Brian J. Bushee & Michael J. Jung & Gregory S. Miller, 2011. "Conference Presentations and the Disclosure Milieu," Journal of Accounting Research, Wiley Blackwell, vol. 49(5), pages 1163-1192, December.
- Hoskin, Re & Hughes, Js & Ricks, We, 1986. "Evidence On The Incremental Information-Content Of Additional Firm Disclosures Made Concurrently With Earnings," Journal of Accounting Research, Wiley Blackwell, vol. 24, pages 1-32.
- Kim, O & Verrecchia, Re, 1991. "Trading Volume And Price Reactions To Public Announcements," Journal of Accounting Research, Wiley Blackwell, vol. 29(2), pages 302-321.
- Peter M. Clarkson & Alex Dontoh & Gordon Richardson & Stephan E. Sefcik, 1992. "The voluntary inclusion of earnings forecasts in IPO prospectuses," Contemporary Accounting Research, John Wiley & Sons, vol. 8(2), pages 601-616, March.
- Heckman, James, 2013.
"Sample selection bias as a specification error,"
Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 129-137.
- Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-161, January.
- Vijay Jog & Bruce J. McConomy, 2003. "Voluntary Disclosure of Management Earnings Forecasts in IPO Prospectuses," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 30(1‐2), pages 125-168, January.
- Phillip C. Stocken, 2000. "Credibility of Voluntary Disclosure," RAND Journal of Economics, The RAND Corporation, vol. 31(2), pages 359-374, Summer.
- Orie E. Barron & Charles O. Kile & Terrence B. O'Keefe, 1999. "MD&A Quality as Measured by the SEC and Analysts' Earnings Forecasts," Contemporary Accounting Research, John Wiley & Sons, vol. 16(1), pages 75-109, March.
- Alessandro Minichilli & Guido Corbetta & Ian C. MacMillan, 2010. "Top Management Teams in Family‐Controlled Companies: ‘Familiness’, ‘Faultlines’, and Their Impact on Financial Performance," Journal of Management Studies, Wiley Blackwell, vol. 47(2), pages 205-222, March.
- repec:bla:jfinan:v:58:y:2003:i:3:p:1301-1327 is not listed on IDEAS
- Robert E. Verrecchia & Joseph Weber, 2006. "Redacted Disclosure," Journal of Accounting Research, Wiley Blackwell, vol. 44(4), pages 791-814, September.
- Ronald C. Anderson & David M. Reeb, 2003. "Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500," Journal of Finance, American Finance Association, vol. 58(3), pages 1301-1328, June.
- Robert M. Grant, 2003. "Strategic planning in a turbulent environment: evidence from the oil majors," Strategic Management Journal, Wiley Blackwell, vol. 24(6), pages 491-517, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Iatridis, George Emmanuel & Pappas, Kostas & Walker, Martin, 2022. "Narrative disclosure quality and the timeliness of goodwill impairments," The British Accounting Review, Elsevier, vol. 54(2).
- Gjergji, Rafaela & Vena, Luigi & Campopiano, Giovanna & Sciascia, Salvatore & Cortesi, Alessandro, 2024. "Strategy disclosure and cost of capital: The key role of women directors for family firms," Journal of Family Business Strategy, Elsevier, vol. 15(2).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Beyer, Anne & Cohen, Daniel A. & Lys, Thomas Z. & Walther, Beverly R., 2010. "The financial reporting environment: Review of the recent literature," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 296-343, December.
- Rogers, Jonathan L. & Van Buskirk, Andrew, 2013. "Bundled forecasts in empirical accounting research," Journal of Accounting and Economics, Elsevier, vol. 55(1), pages 43-65.
- Christian Leuz & Peter D. Wysocki, 2016. "The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research," Journal of Accounting Research, Wiley Blackwell, vol. 54(2), pages 525-622, May.
- Wolfgang Drobetz & Dimitrios Gounopoulos & Anna Merika & Andreas Merikas, 2017. "Determinants of Management Earnings Forecasts: The Case of Global Shipping IPOs," European Financial Management, European Financial Management Association, vol. 23(5), pages 975-1015, October.
- Al-Hadi, Ahmed & Taylor, Grantley & Hossain, Mahmud, 2015. "Disaggregation, auditor conservatism and implied cost of equity capital: An international evidence from the GCC," Journal of Multinational Financial Management, Elsevier, vol. 29(C), pages 66-98.
- Andrew Ferguson & Tom Scott & Neil Fargher, 2016. "The determinants and market reaction to Open Briefings: an investor relations option and evidence on the effectiveness of disclosure," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 56(3), pages 803-843, September.
- Lee, Cheng-Hsun & Bose, Sudipta, 2021. "Do family firms engage in less tax avoidance than non-family firms? The corporate opacity perspective," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(2).
- Miihkinen, Antti, 2013. "The usefulness of firm risk disclosures under different firm riskiness, investor-interest, and market conditions: New evidence from Finland," Advances in accounting, Elsevier, vol. 29(2), pages 312-331.
- Khurana, Inder K. & Raman, K.K. & Wang, Dechun, 2013. "Weakened outside shareholder rights in dual-class firms and timely loss reporting," Journal of Contemporary Accounting and Economics, Elsevier, vol. 9(2), pages 203-220.
- Jean Bédard & Daniel Coulombe & Lucie Courteau, 2016. "The Credibility of Earnings Forecasts in IPO Prospectuses and Underpricing," Accounting Perspectives, John Wiley & Sons, vol. 15(4), pages 235-267, December.
- Thorsten Knauer & Christian Ledwig & Andreas Wömpener, 2012. "Zur Wertrelevanz freiwilliger Managementprognosen in Deutschland," Schmalenbach Journal of Business Research, Springer, vol. 64(2), pages 166-204, March.
- Ranganathan, Kavitha & Veeraraghavan, Madhu, 2023. "Pre-and-aftermarket IPO underpricing: Does use of proceeds disclosure matter?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(3).
- Robert Fraunhoffer & Ho Young Kim & Dirk Schiereck, 2018. "Value Creation in M&A Transactions, Conference Calls, and Shareholder Protection," IJFS, MDPI, vol. 6(1), pages 1-21, January.
- Imhof, Michael J & Seavey, Scott E., 2018. "How investors value cash and cash flows when managers commit to providing earnings forecasts," Advances in accounting, Elsevier, vol. 41(C), pages 74-87.
- Heitzman, Shane & Wasley, Charles & Zimmerman, Jerold, 2010. "The joint effects of materiality thresholds and voluntary disclosure incentives on firms' disclosure decisions," Journal of Accounting and Economics, Elsevier, vol. 49(1-2), pages 109-132, February.
- Cormier, Denis & Martinez, Isabelle, 2006. "The association between management earnings forecasts, earnings management, and stock market valuation: Evidence from French IPOs," The International Journal of Accounting, Elsevier, vol. 41(3), pages 209-236.
- Ahmed A. Elamer & Collins G. Ntim & Hussein A. Abdou & Alaa Mansour Zalata & Mohamed Elmagrhi, 2019. "The impact of multi-layer governance on bank risk disclosure in emerging markets: the case of Middle East and North Africa," Accounting Forum, Taylor & Francis Journals, vol. 43(2), pages 246-281, April.
- Anne Cazavan‐Jeny & Thomas Jeanjean, 2007.
"Levels of voluntary disclosure in IPO prospectuses: an empirical analysis,"
Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 6(2), pages 131-149, May.
- Thomas Jeanjean & Anne Cazavan-Jeny, 2005. "Levels of voluntary disclosure in IPO prospectuses: An empirical analysis," Working Papers hal-00586546, HAL.
- Anne Cazavan-Jeny & Thomas Jeanjean, 2007. "Levels of voluntary disclosure in IPO prospectuses: An empirical analysis," Post-Print halshs-00170565, HAL.
- Cazavan-Jeny , Anne & Jeanjean, Thomas, 2006. "Levels of voluntary disclosure in IPO prospectuses: an empirical analysis," ESSEC Working Papers DR 06001, ESSEC Research Center, ESSEC Business School.
- Jeanjean, Thomas & Cazavan-Jeny, Anne, 2005. "Levels of voluntary disclosure in IPO prospectuses : an empirical analysis," HEC Research Papers Series 827, HEC Paris.
- Dobler, Michael, 2008. "Incentives for risk reporting -- A discretionary disclosure and cheap talk approach," The International Journal of Accounting, Elsevier, vol. 43(2), pages 184-206.
- Mauricio Jara-Bertin & Jean P. Sepulveda, 2014. "Earnings Management and Performance in Family-Controlled Firms:Evidence from an Emerging Economy," Serie Working Papers 01, Universidad del Desarrollo, School of Business and Economics, revised Nov 2014.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:euract:v:26:y:2017:i:2:p:341-378. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REAR20 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.