haku: @author Matsunaga, S. / yhteensä: 4
viite: 2 / 4
Tekijä:Hui, K.W.
Matsunaga, S.
Morse, D.
Otsikko:The impact of conservatism on management earnings forecast
Lehti:Journal of Accounting & Economics
2009 : JUN, VOL. 47:3, p. 192-207
Asiasana:management
forecasting
reporting
regression analysis
accounting principles
Kieli:eng
Tiivistelmä:This paper examines the empirical relation between a firm's accounting conservatism and management's issuance of quantitative earnings forecast. Three measures of conservatism from prior literature are used along with two aggregate measures. A negative association between conservatism and the frequency, specificity, and timeliness of management forecasts is found. These results are robust to estimating the regression in changes, using firm fixed-effects, and using a two-stage instrumental variables approach. Overall, the results suggest accounting conservatism acting as a substitute for management forecasts by decreasing information asymmetry in the market and reducing potential litigation through the timely reporting of bad news.
SCIMA tietueen numero: 270962
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