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| Tekijä: | Gramlich, J.D. Soerensen, O. |
| Otsikko: | Voluntary management earnings forecasts and discretionary accruals: evidence from Danish IPOs |
| Lehti: | European Accounting Review
2004 : VOL 13:2, p. 235-259 |
| Asiasana: | Denmark Earnings Forecasting Initial public offerings |
| Kieli: | eng |
| Tiivistelmä: | The paper attempts to determine whether Danish managers exercise discretionary accruals to reach earnings forecast targets they voluntarily specify in conjunction with initial public offerings (IPOs). 58 Danish companies are examined, and the results suggest that pre-managed earnings are adjusted toward these targets. In contrast with voluntarily forecasting American firms, Danish companies exercise discretionary accruals to mitigate earnings forecast errors regardless of whether pre-managed earnings are less, or greater than the forecasted amount. |
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