Download or read book The Impact of Trading Commission Incentives on Stock Coverage and Earnings Forecast Decisions by Security Analysts written by Rachel Mary Hayes and published by . This book was released on 1996 with total page 196 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 Journal of Accounting Research written by and published by . This book was released on 1997 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proceedings of the 9th- Annual conference on research in accounting, held at the University of Chicago.
Download or read book Advances in Quantitative Analysis of Finance and Accounting New Series Vol 12 written by Cheng F. Lee and published by Center for PBBEFR & Airiti Press. This book was released on 2014-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Quantitative Analysis of Finance and Accounting (New Series) is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. The publication is a forum for statistical and quantitative analyses of issues in finance and accounting as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting and applied research in the financial community and the accounting profession.
Download or read book International Conference on Economics and Management Engineering ICEME2014 written by and published by DEStech Publications, Inc. This book was released on 2014-10-22 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2014 International Conference on Economics and Management Engineering (ICEME2014) is held in Hangzhou, China from October 18–19, 2014. The conference aims to provide an excellent international academic forum for all the researchers, practitioner, students and teachers in related fields to share their knowledge and results in theory, methodology and application on economics, management science and management engineering. ICEME2014 features unique mixed topics of Economics, Management Science, Management Engineering and other related ones. ICEME2014 proceeding tends to collect the most up-to-date, comprehensive, and worldwide state-of-art knowledge on economics, management science and management engineering. All the accepted papers have been submitted to strict peer-review by 2–4 expert referees, and selected based on originality, significance and clarity for the purpose of the conference. The conference program is extremely rich, profound and featuring high-impact presentations of selected papers and additional late-breaking contributions. We sincerely hope that the conference would not only show the participants a broad overview of the latest research results on related fields, but also provide them with a significant platform for academic connection and exchange.
Download or read book Working Paper Series written by and published by . This book was released on 1998 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of Accounting Economics written by and published by . This book was released on 1999-11 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trading Incentives to Meet the Analyst Forecast written by Sarah E. McVay and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine stock sales as a managerial incentive to help explain the discontinuity around the analyst forecast benchmark. We find that the likelihood of just meeting versus just missing the analyst forecast is strongly associated with subsequent managerial stock sales. Moreover, we provide evidence that managers manage earnings prior to just meeting the threshold and selling their shares. Finally, the relation between just meeting and subsequently selling shares does not hold for non-manager insiders, who arguably cannot affect the earnings outcome, and is weaker in the presence of an independent board, suggesting that good corporate governance mitigates this strategic behavior.
Download or read book Dissertation Abstracts International written by and published by . This book was released on 1996 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Psychology of World Equity Markets written by Werner Franciscus Marcel De Bondt and published by . This book was released on 2005 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Proceedings of a Conference on Bank Structure and Competition written by and published by . This book was released on 2003 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Annual Commencement written by Stanford University and published by . This book was released on 1996 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book When Security Analysts Talk Who Listens written by Michael B. Mikhail and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulators' interest in analyst reports stems from the belief that small investors are unaware of the conflicts sell-side analysts face and may, as a consequence, be misled into making suboptimal investment decisions. We examine who trades on security analyst stock recommendations by extending prior research to focus on investor-specific responses to revisions. We find that both large and small traders react to analyst reports; however, large investors appear to trade more than small traders in response to the information conveyed by the analyst's recommendation and earnings forecast revision (proxied by the magnitudes of the recommendation change and the earnings forecast revision, respectively). We also find that small investors do not fully account for the effects of analysts' incentives on the credibility of analyst reports, as captured by the type of recommendation (i.e., upgrade versus downgrade or buy versus sell). In particular, small investors not only trade more than large investors following upgrade and buy recommendations, but also trade more following upgrade and buy recommendations than they do following downgrade and hold/sell recommendations. Furthermore, we observe that, on average, small traders are net purchasers following recommendation revisions regardless of the type of the recommendation; large traders tend to be net sellers following downgrades and sells. Consequently, large traders generate statistically positive returns from their trading, while small traders generate statistically negative returns from their trading. These findings are consistent with large investors being more sophisticated processors of information, and provide some support for regulators' concerns that analysts may more easily mislead small investors.
Download or read book Studies on Accounting Information and the Economics of the Firm written by and published by . This book was released on 2001 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at the annual Conference on Accounting Research, held at the University of Chicago, sponsored by KPMG Peat Marwick Foundation.
Download or read book American Doctoral Dissertations written by and published by . This book was released on 1997 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effect of Labor Strikes on Security Analysts Forecast Superiority and on the Association between Risk Adjusted Stock Returns and Unexpected Earnings written by Lawrence D. Brown and published by . This book was released on 2014 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically examines whether labor strikes affect the forecasting and information content of quarterly earnings numbers. We address two issues regarding financial analyst forecast (FAF) superiority: whether FAF superiority increases when a strike occurs and if so, whether the increase in FAF superiority is sustained immediately after the strike ends. We also examine two issues regarding information content: whether strikes affect the coefficient mapping unexpected earnings into stock prices and whether strikes affect the variance of stock price changes. We suggest that strikes affect both the forecasting and information content of quarterly earnings numbers.
