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Biased forecasts or biased earnings? The role of reported earnings in explaining apparent bias and over/underreaction in analysts' earnings forecasts

Citations

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Cited by:

  1. Ryan T. Ball, 2011. "Discussion of Why Do EPS Forecast Error and Dispersion Not Vary with Scale? Implications for Analyst and Managerial Behavior," Journal of Accounting Research, Wiley Blackwell, vol. 49(2), pages 403-412, May.
  2. Roger C.Y. Chen & Shih‐Wei Hung, 2021. "Exploring the impact of corporate social responsibility on real earning management and discretionary accruals," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(1), pages 333-351, January.
  3. Gavious, Ilanit & Parmet, Yisrael, 2010. "Do private firm valuations contain incremental information content over routine analyst valuations?," Research in International Business and Finance, Elsevier, vol. 24(2), pages 223-234, June.
  4. Gilles Hilary & Lior Menzly, 2006. "Does Past Success Lead Analysts to Become Overconfident?," Management Science, INFORMS, vol. 52(4), pages 489-500, April.
  5. Doyle, Jeffrey T. & Jennings, Jared N. & Soliman, Mark T., 2013. "Do managers define non-GAAP earnings to meet or beat analyst forecasts?," Journal of Accounting and Economics, Elsevier, vol. 56(1), pages 40-56.
  6. Datta, Sudip & Iskandar-Datta, Mai & Sharma, Vivek, 2011. "Product market pricing power, industry concentration and analysts' earnings forecasts," Journal of Banking & Finance, Elsevier, vol. 35(6), pages 1352-1366, June.
  7. Li, Lin & Tong, Wilson H.S., 2018. "Information uncertainty and target valuation in mergers and acquisitions," Journal of Empirical Finance, Elsevier, vol. 45(C), pages 84-107.
  8. Iatridis, George, 2010. "International Financial Reporting Standards and the quality of financial statement information," International Review of Financial Analysis, Elsevier, vol. 19(3), pages 193-204, June.
  9. Wil Martens & Prem W. S. Yapa & Maryam Safari, 2020. "The Impact of Financial Statement Comparability on Earnings Management: Evidence from Frontier Markets," IJFS, MDPI, vol. 8(4), pages 1-25, November.
  10. So, Eric C., 2013. "A new approach to predicting analyst forecast errors: Do investors overweight analyst forecasts?," Journal of Financial Economics, Elsevier, vol. 108(3), pages 615-640.
  11. Emmanuel Mamatzakis & Anna Bagntasarian, 2021. "The nexus between CEO incentives and analysts' earnings forecasts," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 6205-6248, October.
  12. repec:lan:wpaper:1351 is not listed on IDEAS
  13. Jon Kerr & Gil Sadka & Ronnie Sadka, 2020. "Illiquidity and Price Informativeness," Management Science, INFORMS, vol. 66(1), pages 334-351, January.
  14. 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.
  15. Simeng Liu & Kun Tracy Wang & Yue Wu, 2024. "Corporate Governance Reforms and Analyst Forecasts: International Evidence," Abacus, Accounting Foundation, University of Sydney, vol. 60(2), pages 272-304, June.
  16. Bok Baik & Joon Chae & Sunhwa Choi & David B. Farber, 2013. "Changes in Operational Efficiency and Firm Performance: A Frontier Analysis Approach," Contemporary Accounting Research, John Wiley & Sons, vol. 30(3), pages 996-1026, September.
  17. Foong Soon Cheong & Jacob Thomas, 2011. "Why Do EPS Forecast Error and Dispersion Not Vary with Scale? Implications for Analyst and Managerial Behavior," Journal of Accounting Research, Wiley Blackwell, vol. 49(2), pages 359-401, May.
  18. Hiu Lam Choy, 2012. "Assessing earnings management flexibility," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 11(4), pages 340-376, October.
  19. Phillip J. McKnight & Steven K. Todd, 2013. "Forecast Bias and Analyst Independence," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 3-32.
  20. Iatridis, George & Valahi, Styliani, 2010. "Voluntary IAS 1 accounting disclosures prior to official IAS adoption: An empirical investigation of UK firms," Research in International Business and Finance, Elsevier, vol. 24(1), pages 1-14, January.
  21. Clatworthy, Mark A. & Peel, David A. & Pope, Peter F., 2007. "Evaluating the properties of analysts’ forecasts: A bootstrap approach," The British Accounting Review, Elsevier, vol. 39(1), pages 3-13.
  22. Zhang, Yiyang & Perols, Johan & Robinson, Dahlia & Smith, Thomas, 2018. "Earnings management strategies to maintain a string of meeting or beating analyst expectations," Advances in accounting, Elsevier, vol. 43(C), pages 46-55.
  23. Chen, Xuanjuan & Yao, Tong & Yu, Tong & Zhang, Ting, 2014. "Learning and incentive: A study on analyst response to pension underfunding," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 26-42.
  24. repec:lan:wpaper:1289 is not listed on IDEAS
  25. Sanjay W. Bissessur & David Veenman, 2016. "Analyst information precision and small earnings surprises," Review of Accounting Studies, Springer, vol. 21(4), pages 1327-1360, December.
  26. Shaowen Hua, 2016. "WhatMakes Underwriting and Non-Underwriting Clients of Brokerage Firms Receive Different Recommendations? An Application of Uplift Random Forest Model," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 5(3), pages 42-56, April.
  27. Hongwen Han & Jiali Jenna Tang & Qingquan Tang, 2021. "Goodwill Impairment, Securities Analysts, and Information Transparency," European Accounting Review, Taylor & Francis Journals, vol. 30(4), pages 767-799, August.
  28. Luong, Thanh Son & Qiu, Buhui & Wu, Yi (Ava), 2021. "Does it pay to be socially connected with wall street brokerages? Evidence from cost of equity," Journal of Corporate Finance, Elsevier, vol. 68(C).
  29. Guanming He & Helen Mengbing Ren & Richard Taffler, 2020. "The impact of corporate tax avoidance on analyst coverage and forecasts," Review of Quantitative Finance and Accounting, Springer, vol. 54(2), pages 447-477, February.
  30. Jiang, Guohua, 2007. "Stock performance and the mispricing of accruals," The International Journal of Accounting, Elsevier, vol. 42(2), pages 153-170.
  31. Jeffery S. Abarbanell & Reuven Lehavy, 2007. "Letting the “Tail Wag the Dog†: The Debate over GAAP versus Street Earnings Revisited," Contemporary Accounting Research, John Wiley & Sons, vol. 24(3), pages 675-723, September.
  32. Mark A. Clatworthy & David A. Peel & Peter F. Pope, 2012. "Are Analysts' Loss Functions Asymmetric?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 31(8), pages 736-756, December.
  33. Bernhardt, Dan & Campello, Murillo & Kutsoati, Edward, 2006. "Who herds?," Journal of Financial Economics, Elsevier, vol. 80(3), pages 657-675, June.
  34. Kothari, S. P. & Sabino, Jowell S. & Zach, Tzachi, 2005. "Implications of survival and data trimming for tests of market efficiency," Journal of Accounting and Economics, Elsevier, vol. 39(1), pages 129-161, February.
  35. Zachary Kaplan & Xiumin Martin & Yifang Xie, 2021. "Truncating Optimism," Journal of Accounting Research, Wiley Blackwell, vol. 59(5), pages 1827-1884, December.
  36. Reto Cueni & Bruno S. Frey, 2014. "Forecasts and Reactivity," CREMA Working Paper Series 2014-10, Center for Research in Economics, Management and the Arts (CREMA).
  37. Reveley Callum & Shanaev Savva & Bin Yu & Panta Humnath & Ghimire Binam, 2023. "Analyst herding—whether, why, and when? Two new tests for herding detection in target forecast prices," Economics and Business Review, Sciendo, vol. 9(4), pages 25-55, December.
  38. Jared Jennings & Hojun Seo & Mark T. Soliman, 2020. "The market’s reaction to changes in relative performance rankings," Review of Accounting Studies, Springer, vol. 25(2), pages 672-725, June.
  39. Vitor Azevedo & Patrick Bielstein & Manuel Gerhart, 2021. "Earnings forecasts: the case for combining analysts’ estimates with a cross-sectional model," Review of Quantitative Finance and Accounting, Springer, vol. 56(2), pages 545-579, February.
  40. Deniz Igan & Marcelo Pinheiro, 2012. "Incentive to manipulate earnings and its connection to analysts’ forecasts, trading, and corporate governance," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 36(4), pages 781-821, October.
  41. Jocelyn D. Evans & Elise Perrault & Timothy A. Jones, 2017. "Managers’ Moral Obligation of Fairness to (All) Shareholders: Does Information Asymmetry Benefit Privileged Investors at Other Shareholders’ Expense?," Journal of Business Ethics, Springer, vol. 140(1), pages 81-96, January.
  42. Sheng, Xuguang & Thevenot, Maya, 2012. "A new measure of earnings forecast uncertainty," Journal of Accounting and Economics, Elsevier, vol. 53(1), pages 21-33.
  43. Wu, Yanran & Liu, Tingting & Han, Liyan & Yin, Libo, 2018. "Optimistic bias of analysts' earnings forecasts: Does investor sentiment matter in China?," Pacific-Basin Finance Journal, Elsevier, vol. 49(C), pages 147-163.
  44. X. Frank Zhang, 2006. "Information Uncertainty and Analyst Forecast Behavior," Contemporary Accounting Research, John Wiley & Sons, vol. 23(2), pages 565-590, June.
  45. Minzhi Wu & Mark Wilson, 2022. "How well do analysts really understand asymmetric cost behaviour?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(3), pages 3951-3985, September.
  46. Erik Peek, 2005. "The influence of accounting changes on financial analysts' forecast accuracy and forecasting superiority: Evidence from the Netherlands," European Accounting Review, Taylor & Francis Journals, vol. 14(2), pages 261-295.
  47. Coën, Alain & Desfleurs, Aurélie, 2010. "La précision des analystes financiers en Europe : l’effet pays et l’effet secteur revisités," L'Actualité Economique, Société Canadienne de Science Economique, vol. 86(2), pages 133-162, juin.
  48. Bradshaw, Mark T., 2003. "A discussion of 'Assessing the relative informativeness and permanence of pro forma earnings and GAAP operating earnings'," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 321-335, December.
  49. Ghysels, Eric & Ball, Ryan & Zhou, Huan, 2014. "Can we Automate Earnings Forecasts and Beat Analysts?," CEPR Discussion Papers 10186, C.E.P.R. Discussion Papers.
  50. Young†Soo Choi & John F. O'Hanlon & Peter F. Pope, 2006. "Conservative Accounting and Linear Information Valuation Models," Contemporary Accounting Research, John Wiley & Sons, vol. 23(1), pages 73-101, March.
  51. Takuya Iwasaki & Norio Kitagawa & Akinobu Shuto, 2012. "Managerial discretion over initial earnings forecasts “Forthcoming in Pacific-Basin Finance Journalâ€," CARF F-Series CARF-F-369, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo, revised Nov 2022.
  52. Lorenzo Casavecchia & Gerhard Hambusch & Justin Hitchen, 2022. "The impact of analyst forecast errors on fundamental indexation: the Australian evidence," Journal of Asset Management, Palgrave Macmillan, vol. 23(5), pages 400-418, September.
  53. Canace, Thomas G. & Caylor, Marcus L. & Johnson, Peter M. & Lopez, Thomas J., 2010. "The effect of Regulation Fair Disclosure on expectations management: International evidence," Journal of Accounting and Public Policy, Elsevier, vol. 29(5), pages 403-423, September.
  54. François Aubert & Gary Grudnitski, 2012. "Analysts' estimates," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 11(1), pages 53-72, February.
  55. Bradshaw, Mark T. & Richardson, Scott A. & Sloan, Richard G., 2006. "The relation between corporate financing activities, analysts' forecasts and stock returns," Journal of Accounting and Economics, Elsevier, vol. 42(1-2), pages 53-85, October.
  56. George Christodoulakis & Konstantinos Stathopoulos & Nikolaos Tessaromatis, 2012. "The term structure of loss preferences and rationality in analyst earnings forecasts," Journal of Asset Management, Palgrave Macmillan, vol. 13(5), pages 310-326, October.
  57. Chansoo Kim & Daniel S Kim & Kwangwon Ahn & M Y Choi, 2017. "Dynamics of analyst forecasts and emergence of complexity: Role of information disparity," PLOS ONE, Public Library of Science, vol. 12(5), pages 1-18, May.
  58. Michael Lacina & Byung Ro, 2013. "Market implied future earnings and analysts’ forecasts," Review of Quantitative Finance and Accounting, Springer, vol. 41(2), pages 295-341, August.
  59. Nooraisah Katmon & Omar Al Farooque, 2017. "Exploring the Impact of Internal Corporate Governance on the Relation Between Disclosure Quality and Earnings Management in the UK Listed Companies," Journal of Business Ethics, Springer, vol. 142(2), pages 345-367, May.
  60. Brian J. Bushee & Theodore H. Goodman, 2007. "Which Institutional Investors Trade Based on Private Information About Earnings and Returns?," Journal of Accounting Research, Wiley Blackwell, vol. 45(2), pages 289-321, May.
  61. repec:lan:wpaper:1350 is not listed on IDEAS
  62. Gu, Zhaoyang & Xue, Jian, 2008. "The superiority and disciplining role of independent analysts," Journal of Accounting and Economics, Elsevier, vol. 45(2-3), pages 289-316, August.
  63. Christina Dargenidou & Stuart McLeay & Ivana Raonic, 2006. "Expected earnings growth and the cost of capital: an analysis of accounting regime change in the European financial market," Abacus, Accounting Foundation, University of Sydney, vol. 42(3‐4), pages 388-414, September.
  64. Athanasakou, Vasiliki & Strong, Norman & Walker, Martin, 2010. "The association between classificatory and inter-temporal smoothing: Evidence from the UK's FRS 3," The International Journal of Accounting, Elsevier, vol. 45(2), pages 224-257, June.
  65. repec:lan:wpaper:1266 is not listed on IDEAS
  66. Dambra, Michael & Field, Laura Casares & Gustafson, Matthew T. & Pisciotta, Kevin, 2018. "The consequences to analyst involvement in the IPO process: Evidence surrounding the JOBS Act," Journal of Accounting and Economics, Elsevier, vol. 65(2), pages 302-330.
  67. Martin Nienhaus, 2022. "Executive equity incentives and opportunistic manager behavior: new evidence from a quasi-natural experiment," Review of Accounting Studies, Springer, vol. 27(4), pages 1276-1318, December.
  68. Shengle Lin & Stephen Rassenti, 2010. "Are Under- and Over-reaction the Same Matter? A Price Inertia based Account," Working Papers 10-05, Chapman University, Economic Science Institute.
  69. Chang, Chu-Hsuan & Lin, Hsiou-Wei William, 2018. "Does there prevail momentum in earnings management for seasoned equity offering firms?," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 111-129.
  70. Ames Daniel & Graden Bryan S. & Sankara Jomo, 2019. "Who Estimates When It’s Not Required? the Case of Subrogation," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 13(1), pages 1-16, January.
  71. repec:lan:wpaper:1288 is not listed on IDEAS
  72. Jeffery Abarbanell & Hyungshin Park, 2017. "Do Bright-Line Earnings Surprises Really Affect Stock Price Reactions?," Management Science, INFORMS, vol. 63(4), pages 1063-1084, April.
  73. Sam Han & Justin Yiqiang Jin & Tony Kang & Gerald Lobo, 2014. "Managerial Ownership and Financial Analysts’ Information Environment," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(3-4), pages 328-362, April.
  74. Iwasaki, Takuya & Kitagawa, Norio & Shuto, Akinobu, 2023. "Managerial discretion over initial earnings forecasts," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
  75. Joshua Livnat & Richard R. Mendenhall, 2006. "Comparing the Post–Earnings Announcement Drift for Surprises Calculated from Analyst and Time Series Forecasts," Journal of Accounting Research, Wiley Blackwell, vol. 44(1), pages 177-205, March.
  76. Xiaotong Wang & Heng-fu Zou, 2008. "Stock Return Dynamics under Earnings Management," CEMA Working Papers 331, China Economics and Management Academy, Central University of Finance and Economics.
  77. Ramnath, Sundaresh & Rock, Steve & Shane, Philip, 2008. "The financial analyst forecasting literature: A taxonomy with suggestions for further research," International Journal of Forecasting, Elsevier, vol. 24(1), pages 34-75.
  78. repec:lan:wpaper:1268 is not listed on IDEAS
  79. Xia, Jingjing, 2023. "Redrawing the line: Narrowly beating analyst forecasts and journalists’ co-coverage choices in earnings-related news articles," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(3).
  80. M A Clatworthy & D Peel & P F Pope, 2006. "Are analysts’ loss functions asymmetric?," Working Papers 574591, Lancaster University Management School, Economics Department.
  81. Cohen, Daniel A. & Lys, Thomas Z., 2003. "A note on analysts' earnings forecast errors distribution," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 147-164, December.
  82. Bo Sun, 2013. "The optimal shape of compensation contracts with earnings management," Applied Economics, Taylor & Francis Journals, vol. 45(21), pages 3102-3109, July.
  83. repec:lan:wpaper:1267 is not listed on IDEAS
  84. Simon Hussain, 2010. "UK security analysts' idiosyncratic factors and predictive ability," Applied Financial Economics, Taylor & Francis Journals, vol. 20(15), pages 1195-1203.
  85. Lin, Shengle & Rassenti, Stephen, 2012. "Are under- and over-reaction the same matter? Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 39-61.
  86. Lambert, Richard A., 2004. "Discussion of analysts' treatment of non-recurring items in street earnings and loss function assumptions in rational expectations tests on financial analysts' earnings forecasts," Journal of Accounting and Economics, Elsevier, vol. 38(1), pages 205-222, December.
  87. Xiaotong Wang, 2005. "Stock Return Dynamics Under Earnings Management," Yale School of Management Working Papers amz2633, Yale School of Management, revised 01 Jul 2006.
  88. Vasiliki Athanasakou & Norman Strong & Martin Walker, 2009. "Earnings management or forecast guidance to meet analyst expectations?," Accounting and Business Research, Taylor & Francis Journals, vol. 39(1), pages 3-35.
  89. Platikanova, Petya & Mattei, Marco Maria, 2016. "Firm geographic dispersion and financial analysts’ forecasts," Journal of Banking & Finance, Elsevier, vol. 64(C), pages 71-89.
  90. Basu, Sudipta & Markov, Stanimir, 2004. "Loss function assumptions in rational expectations tests on financial analysts' earnings forecasts," Journal of Accounting and Economics, Elsevier, vol. 38(1), pages 171-203, December.
  91. Linnainmaa, Juhani T. & Torous, Walter & Yae, James, 2016. "Reading the tea leaves: Model uncertainty, robust forecasts, and the autocorrelation of analysts’ forecast errors," Journal of Financial Economics, Elsevier, vol. 122(1), pages 42-64.
  92. Echterling, F. & Eierle, B. & Ketterer, S., 2015. "A review of the literature on methods of computing the implied cost of capital," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 235-252.
  93. Derann Hsu & Cheng-Huei Chiao, 2011. "Relative accuracy of analysts’ earnings forecasts over time: a Markov chain analysis," Review of Quantitative Finance and Accounting, Springer, vol. 37(4), pages 477-507, November.
  94. Ruei-Shian Wu & Hsiou-wei W. Lin, 2014. "Security analysts' incentive and cognitive processing bias: evidence from analysts' recommendations," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 21(4), pages 443-471, December.
  95. Cameron, Andrew & Nelson, Rohan, 2022. "Enabling Users to Evaluate the Accuracy of ABARES Agricultural Forecasts," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 30(7), November.
  96. Jin Zhang & Haeyoung Shin, 2017. "Are Analysts Overoptimistic about the Prospects of Sin Firms?," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 8(4), pages 99-106, October.
  97. George Iatridis & Panayotis Alexakis, 2012. "Evidence of voluntary accounting disclosures in the Athens Stock Market," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 11(1), pages 73-92, February.
  98. Dichev, Ilia D. & Tang, Vicki Wei, 2009. "Earnings volatility and earnings predictability," Journal of Accounting and Economics, Elsevier, vol. 47(1-2), pages 160-181, March.
  99. Eiler, Lisa A. & Filzen, Joshua J. & Jackson, Mark & Tama-Sweet, Isho, 2021. "Real earnings management and the properties of analysts' forecasts," Advances in accounting, Elsevier, vol. 55(C).
  100. Vahid Biglari Author_Email: vahidbiglari@siswa.um.edu.my & Gurcharan Singh Pritam Singh, 2011. "The Effect Of Market Incentives On Analyst Forecast Management And Analyst Forecast Error," 2nd International Conference on Business and Economic Research (2nd ICBER 2011) Proceeding 2011-215, Conference Master Resources.
  101. Mamatzakis, Emmanuel, 2022. "An international study on the impact of corruption on analysts’ forecasts," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 48(C).
  102. Astaiza-Gómez, José Gabriel, 2021. "The Effects of Investors' Information Acquisition On Sell-Side Analysts Forecast Bias," MPRA Paper 110059, University Library of Munich, Germany.
  103. Lee, Bryan Byung-Hee & Lee, Jay Junghun, 2024. "Financial statement comparability and analysts’ optimism for accruals," The British Accounting Review, Elsevier, vol. 56(3).
  104. Philip L. Baird, 2020. "Do investors recognize biases in securities analysts’ forecasts?," Review of Financial Economics, John Wiley & Sons, vol. 38(4), pages 623-634, October.
  105. Mustafa Ciftci & Raj Mashruwala & Dan Weiss, "undated". "Implications of Cost Behavior for Analysts’ Earnings Forecasts," Accounting Working Papers 17-03/2014, School of Business Administration, American University of Sharjah.
  106. Henock Louis & Amy X. Sun & Oktay Urcan, 2013. "Do Analysts Sacrifice Forecast Accuracy for Informativeness?," Management Science, INFORMS, vol. 59(7), pages 1688-1708, July.
  107. Jorgensen, Bjorn & Li, Jing & Sadka, Gil, 2012. "Earnings dispersion and aggregate stock returns," Journal of Accounting and Economics, Elsevier, vol. 53(1), pages 1-20.
  108. Xiaotong Wang, 2005. "Stock Return Dynamics Under Earnings Management," Yale School of Management Working Papers amz2633, Yale School of Management, revised 01 Jul 2006.
  109. Ghysels, Eric & Ball, Ryan, 2017. "Automated Earnings Forecasts:- Beat Analysts or Combine and Conquer?," CEPR Discussion Papers 12179, C.E.P.R. Discussion Papers.
  110. Armen Hovakimian & Ekkachai Saenyasiri, 2014. "US Analyst Regulation and the Earnings Forecast Bias around the World," European Financial Management, European Financial Management Association, vol. 20(3), pages 435-461, June.
  111. Ahmed, Anwer S. & Nainar, S.M. Khalid & Zhang, X. Frank, 2006. "Further evidence on analyst and investor misweighting of prior period cash flows and accruals," The International Journal of Accounting, Elsevier, vol. 41(1), pages 51-74.
  112. Ryan T. Ball & Eric Ghysels, 2018. "Automated Earnings Forecasts: Beat Analysts or Combine and Conquer?," Management Science, INFORMS, vol. 64(10), pages 4936-4952, October.
  113. Brown, Lawrence D. & Zhou, Ling, 2015. "Interactions between analysts’ and managers’ earnings forecasts," International Journal of Forecasting, Elsevier, vol. 31(2), pages 501-514.
  114. Takuya Iwasaki & Norio Kitagawa & Akinobu Shuto, 2013. "Managerial Discretion over Their Initial Earnings Forecasts," Discussion Paper Series DP2013-31, Research Institute for Economics & Business Administration, Kobe University.
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