search query: @indexterm DISCLOSURE OF INFORMATION / total: 199
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| Author: | Jennings, R. |
| Title: | Unsystematic security price movements, management earnings forecasts, and revision in consensus analyst earnings forecasts. |
| Journal: | Journal of Accounting Research
1987 : SPRING, VOL. 25:1, p. 90-110 |
| Index terms: | SHARE PRICES RATE OF RETURN FINANCIAL FORECASTING DISCLOSURE OF INFORMATION |
| Language: | eng |
| Abstract: | Empirical evidence suggests that information about a firm's future earnings prospects is important to investors. It turns out that investors find analyst forecast revisions and management forecasts informative. Previous research analyzed the two issues separately, although they are statistically associated. Investors find some management forecasts less reliable than others. Thus, believability may be as significant as surprise in measuring the information content of management forecasts and in explaining the unsystematic security returns. |
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