We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
The effects of analyst forecasts and earnings trends on perceptions of management forecast credibility.
- Authors
Gaynor, Lisa M.; Kelton, Andrea S.
- Abstract
We examine whether analyst forecasts influence investors' perceptions of the credibility of a good news management earnings forecast. We hypothesize that the effect of analyst forecasts will depend on whether the analyst forecast confirms management's forecast and the extent to which management's forecast is consistent with the prior earnings trend. Findings indicate that the positive effect of a confirming analyst forecast is greater when the management forecast is trend inconsistent than when it is trend consistent. The negative effect of a disconfirming analyst forecast does not differ based on management forecast trend consistency.
- Subjects
BUSINESS forecasting; INVESTORS; SENSORY perception; TRUTHFULNESS &; falsehood; EARNINGS trends; DISCLOSURE; PSYCHOLOGY
- Publication
Accounting & Finance, 2014, Vol 54, Issue 1, p189
- ISSN
0810-5391
- Publication type
Article
- DOI
10.1111/j.1467-629X.2012.00505.x