Do analysts’ cash flow forecasts help investors?

Shou Min Tsao, Che Hung Lin

研究成果: 雜誌貢獻期刊論文同行評審

摘要

This study examines the effect of analysts’ cash flow forecasts on accruals mispricing. We find that investors tend to overestimate the information in accruals but that accrual mispricing is significantly lower for the firms with analysts’ cash flow forecasts. Our results suggest that these forecasts improve the efficiency of investors’ reactions to earnings announcements by conveying information on accrual components of reported earnings.

原文???core.languages.en_GB???
頁(從 - 到)361-370
頁數10
期刊Actual Problems of Economics
184
發行號10
出版狀態已出版 - 2016

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