search query: @indexterm FORECASTING / total: 1417
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| Author: | Bernhardt, D. Campello, M. |
| Title: | The dynamics of earnings forecast management |
| Journal: | Review of finance
2007 : JUN, VOL. 11:2, p. 287-324 |
| Index terms: | earnings forecasting management stocks prices |
| Language: | eng |
| Abstract: | This paper explores whether firms manage analyst forecasts and the associated value consequences. It is found that earnings forecasts tend to grow pessimistic over the forecast horizon and these forecast changes and their timing are key determinants of whether firms generate positive earnings surprises. Thsi finding is the opposite of that predicted if consensus revisions reflected new information arrival etc. |
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