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| Author: | Dichev, I.D. Tang, V.W. |
| Title: | Earnings volatility and earnings predictability |
| Journal: | Journal of Accounting & Economics
2009 : MAR, VOL. 47:1-2, p. 160-181 |
| Index terms: | earnings volatility forecasting empirical research management |
| Language: | eng |
| Abstract: | Widely held managerial beliefs that earnings volatility is negatively related to earnings predictability is indicated by survey evidence. Additionally, existing research suggests that earnings volatility is determined by economic and accounting factors. Both of these factors reduce earnings predictability. This study finds that the consideration of earnings volatility brings substantial improvements in the prediction of both short- and long-term earnings. Identifying systematic errors in analyst forecast is allowed by conditioning on volatility information, which implies that analysts do not fully understand the implications of earnings volatility for earnings predictability. |
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