haku: @indexterm error estimation / yhteensä: 18
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| Tekijä: | Xu, W. |
| Otsikko: | Do management earnings forecasts incorporate information in accruals? |
| Lehti: | Journal of Accounting & Economics
2010 : APR, VOL. 49:3, p. 227-246 |
| Asiasana: | management forecasting error estimation earnings |
| Kieli: | eng |
| Tiivistelmä: | This paper examines whether management earnings forecasts fully reflect the implications of accruals for future earnings. Managers are found to overestimate accrual persistence in range forecasts but not in point forecasts, and managers' accrual-related forecast bias in range forecasts are found to increase with forecast range and horizon. The results thus suggest that managers overestimate accrual persistence when faced with greater difficulty forecasting earnings. Furthermore, managers' accrual-related forecast bias in range forecasts are found to be somewhat affected by managerial opportunism and fear of litigation. Finally, accrual mispricing is found for firms issuing range forecasts but not for firms issuing point forecasts. |
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