Do voluntary disclosures of product and business expansion plans impact analyst coverage and forecasts?

被引：23

作者：

He, Guanming ^{[1
]}

Marginson, David ^{[2
]}

Dai, Xixi ^{[3
]}

机构：

[1] Univ Durham, Business Sch, Durham, England

[2] Univ Warwick, Warwick Business Sch, Coventry, W Midlands, England

[3] CSRC, Beijing, Peoples R China

来源：

ACCOUNTING AND BUSINESS RESEARCH | 2019年 / 49卷 / 07期

关键词：

nonfinancial disclosures; analyst coverage; forecast informativeness; forecast errors; RESEARCH-AND-DEVELOPMENT; EARNINGS FORECASTS; VALUE-RELEVANCE; NONFINANCIAL INFORMATION; CAREER CONCERNS; ACCURACY; MANAGEMENT; COMPENSATION; PERFORMANCE; ENVIRONMENT;

D O I：

10.1080/00014788.2018.1559717

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We investigate whether voluntary disclosures of product and business expansion plans affect analyst coverage and forecasts. We find that the level of analyst coverage is positively associated with the incidence of disclosures of product and business expansion plans. We also find that product and business expansion disclosures increase the informativeness of analyst earnings forecasts. We find no evidence that product and business expansion disclosures increase analyst forecast errors. Overall, our study contributes to understanding the role of product and business expansion disclosures in analyst forecast behaviour.

引用

页码：785 / 817

页数：33

共 15 条

[1] The impact of insider trading on analyst coverage and forecasts
He, Guanming
Marginson, David
[J]. ACCOUNTING RESEARCH JOURNAL, 2020, 33 (03) : 499 - 521
[2] The impact of corporate tax avoidance on analyst coverage and forecasts
Guanming He
Helen Mengbing Ren
Richard Taffler
[J]. Review of Quantitative Finance and Accounting, 2020, 54 : 447 - 477
[3] The impact of corporate tax avoidance on analyst coverage and forecasts
He, Guanming
Ren, Helen Mengbing
Taffler, Richard
[J]. REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING, 2020, 54 (02) : 447 - 477
[4] How do insider trading incentives shape nonfinancial disclosures? Evidence from product and business expansion disclosures
He, Guanming
[J]. REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING, 2023, 60 (01) : 147 - 194
[5] How do insider trading incentives shape nonfinancial disclosures? Evidence from product and business expansion disclosures
Guanming He
[J]. Review of Quantitative Finance and Accounting, 2023, 60 : 147 - 194
[6] Do voluntary cash flow disclosures and forecasts matter to value of the firms?
Hoque, Monzurul
Rakow, K. C.
[J]. MANAGERIAL FINANCE, 2016, 42 (01) : 3 - 12
[7] Do Firms Use M&A Business to Pay for Analyst Coverage ?
Sibilkov, Valeriy
Straska, Miroslava
Waller, H.
[J]. FINANCIAL REVIEW, 2013, 48 (04) : 725 - 751
[8] Discussion of “The impact of product market competition on the quantity and quality of voluntary disclosures”
Christo Karuna
[J]. Review of Accounting Studies, 2010, 15 : 712 - 723
[9] Discussion of "The impact of product market competition on the quantity and quality of voluntary disclosures"
Karuna, Christo
[J]. REVIEW OF ACCOUNTING STUDIES, 2010, 15 (03) : 712 - 723
[10] Do Business Relationships Affect the Accuracy of Analyst Earnings Forecasts? Evidence from China
Wang, Shengnian
Wei, Chunyan
Han, Liang
[J]. ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, 2017, 46 (01) : 155 - 177

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