search query: @author Lennox, C.S. / total: 2
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| Author: | Lennox, C.S. Park, C.W. |
| Title: | The informativeness of earnings and management's issuance of earnings forecasts |
| Journal: | Journal of Accounting & Economics
2006 : DEC, VOL. 42:3, p. 439-458 |
| Index terms: | earnings information forecasting managers |
| Language: | eng |
| Abstract: | It is suggested by theory that managers issue earnings (here as: erngs.) forecasts (here as: e-fcts.) to reduce information asymmetry. It is hypothesized that a manager is more likely to issue e-fcts. if investors perceive that erngs. are more informative. In this study, erngs. informativeness is measured by estimating the firm's erngs. response coefficient (ERC) in quarters prior to the fcts. issuance decision. Consistent with the hypothesis, it is found that the firm's historic ERC is positively associated with management's issuance of e-fcts. |
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