Download or read book Examining the Impacts of Regulation on Long term Earnings Growth Forecasts written by Bennett Salvatora and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The following study analyzes the accuracy and bias of sell-side equity analyst's long-term earnings per share growth forecasts. Having a firm understanding of the accuracy of analyst's long-term earnings per share estimates is vital for any professionals using such forecasts when performing financial valuation, estimating cost of capital, and making investment decisions. By comparing long-term earnings per share growth rate estimates to actual earnings per share growth rates observed, both the accuracy and bias of forecasts were evaluated.Specifically, this study was focused on discovering whether analysts' estimates have improved over time. Even with the implementation of recent regulatory reforms aimed to improve the bias and inaccuracy of analyst forecasts, this study found no significant evidence that such changes have been helpful in improving the accuracy or continued upward bias that exists in long-term earnings per share growth rate estimates. Recognition of this persistent bias and inaccuracy of long-term earnings per share growth rate estimates is vital for all market participants to understand and take into consideration in order to make prudent investment decisions.
Download or read book The Determinants and Consequences of Managerial Earnings Guidance Prior to Regulation Fair Disclosure written by Amy P. Hutton and published by . This book was released on 2002 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Prior to Regulation Fair Disclosure some management spent considerable time and effort guiding analyst earnings estimates; other management did not. In this paper I examine the determinants and consequences of management's decision to work with analysts in the development of their earnings estimates using proprietary survey data from the National Investor Relations Institute. Findings suggest that when earnings are important to valuation but hard to forecast because businesses and financial transactions are complex, management is more likely to provide assistance to analysts presumably to avoid inaccurate analyst forecasts and negative earnings surprises. A comparison of guided and unguided analyst forecasts indicates that guided quarterly earnings forecasts are more accurate but also more frequently pessimistic, consistent with analysts rationally trading offbias for accuracy to retain access to management's earnings guidance. Cross-sample comparisons of analysts' stock recommendations and long-term growth forecasts provide additional support for the hypothesis that analyst objectivity and independence is affected by management's decision to provide earnings guidance. Finally, evidence from stock price reactions to deviations from the consensus forecast (the traditional measure of earnings surprises) indicates that investors distinguish between guided and unguided analyst forecasts when forming their earnings expectations. This study furthers our understanding of what factors affect management's disclosure choices and how managers' disclosure choices influence the objectivity and independence of sell-side analysts.
Download or read book The Consequences of Management Earnings Forecast Regulation written by Bin Ke and published by . This book was released on 2019 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the consequences of a management earnings forecast regulation implemented in a staggered manner. The regulation substantially increases the directly affected firms' frequency of management forecasts. Nevertheless, approximately 14% of the directly affected firms fail to comply with the regulation (noncompliant firms). The regulation helps increase the stock price informativeness of the directly affected firms that issue a forecast. The regulation also helps increase the stock price informativeness of the noncompliant firms (a spillover), but we find no evidence of a similar spillover for the firms that are not required to issue mandatory forecasts in the post-regulation period.
Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Download or read book Employer Costs for Employee Compensation written by and published by . This book was released on 2000 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of Earnings Forecast Error Earnings Forecast Revision and Earnings Forecast Accuracy written by Sebastian Gell and published by Springer Science & Business Media. This book was released on 2012-03-26 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Earnings forecasts are ubiquitous in today’s financial markets. They are essential indicators of future firm performance and a starting point for firm valuation. Extremely inaccurate and overoptimistic forecasts during the most recent financial crisis have raised serious doubts regarding the reliability of such forecasts. This thesis therefore investigates new determinants of forecast errors and accuracy. In addition, new determinants of forecast revisions are examined. More specifically, the thesis answers the following questions: 1) How do analyst incentives lead to forecast errors? 2) How do changes in analyst incentives lead to forecast revisions?, and 3) What factors drive differences in forecast accuracy?
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008-08-06 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Download or read book Financial Gatekeepers written by Yasuyuki Fuchita and published by Brookings Institution Press. This book was released on 2007-02-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Nomura Institute of Capital Markets Research publication Developed country capital markets have devised a set of institutions and actors to help provide investors with timely and accurate information they need to make informed investment decisions. These actors have become known as "financial gatekeepers" and include auditors, financial analysts, and credit rating agencies. Corporate financial reporting scandals in the United States and elsewhere in recent years, however, have called into question the sufficiency of the legal framework governing these gatekeepers. Policymakers have since responded by imposing a series of new obligations, restrictions, and punishments—all with the purpose of strengthening investor confidence in these important actors. Financial Gatekeepers provides an in-depth look at these new frameworks, especially in the United States and Japan. How have they worked? Are further refinements appropriate? These are among the questions addressed in this timely and important volume. Contributors include Leslie Boni (University of New Mexico), Barry Bosworth (Brookings Institution), Tomoo Inoue (Seikei University), Zoe-Vonna Palmrose (University of Southern California), Frank Partnoy (University of San Diego School of Law), George Perry (Brookings Institution), Justin Pettit (UBS), Paul Stevens (Investment Company Institute), Peter Wallison (American Enterprise Institute).
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Half Asleep in Frog Pajamas written by Tom Robbins and published by Bantam. This book was released on 1995-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the stock market crashes on the Thursday before Easter, you—an ambitious, although ineffectual and not entirely ethical young broker—are convinced that you’re facing the Weekend from Hell. Before the market reopens on Monday, you’re going to have to scramble and scheme to cover your butt, but there’s no way you can anticipate the baffling disappearance of a 300-pound psychic, the fall from grace of a born-again monkey, or the intrusion in your life of a tattooed stranger intent on blowing your mind and most of your fuses. Over these fateful three days, you will be forced to confront everything from mysterious African rituals to legendary amphibians, from tarot-card bombshells to street violence, from your own sexuality to outer space. This is, after all, a Tom Robbins novel—and the author has never been in finer form.
Download or read book Fixing Broken Windows written by George L. Kelling and published by Simon and Schuster. This book was released on 1997 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cites successful examples of community-based policing.
Download or read book Wiley s Level II CFA Program 11th Hour Final Review Study Guide 2020 written by Wiley and published by John Wiley & Sons. This book was released on 2020-03-10 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The CFA Institute has announced that all 2021 exams will continue to reflect the official 2020 curriculum. Wiley's 11th Hour Final Review Guide for 2020 Level II CFA Exam compacts all readings tested on the 2020 CFA exam into one portable volume. Organized in order, this best-selling guide has helped thousands of candidates from over one-hundred countries pass the CFA exam. Designed to boil it all down to the crucial concepts, formulas and rules, this guide ensures candidates are familiar with the most important testable information. It's difficult to go over multiple books in the last few weeks before the exam, so Wiley's 11th Hour Review Guide does the work for you—condensing each reading down to two- to five pages. Enter the exam room with confidence and reinforce your knowledge and preparation! This comprehensive guide complements Wiley's CFA Study Guides sold separately but may be used with any review course. An effective, efficient study guide, this book prepares you to reach the next level in your career. "The Eleventh Hour Review book is simply brilliant. Virtually every sentence it contains is testable—it's an absolute must-have for every Level I candidate." —Ameer, UK "The eleventh hour guide was a great help." —Konrad, South Africa "I used your eleventh hour guide and mock exams for the last bit of my studying and greatly enjoyed your material. Out of all of the exam prep material, I thought [yours] was the best." —Thomas, USA "Thanks to the team for writing the most intelligent Chartered Financial Analyst material I have seen to date. The eleventh hour guide is absolute genius and proving very valuable at this stage of the revision process." —Doug, UK
