This paper documents that the weighting of analysts' annual earnings forecasts implicit in
security prices is lower than the historical relation between financial analysts' forecasts and …

This study compares shareholder returns around the date of corporate merger for samples
of conglomerate and non-conglomerate mergers. The pre-merger period shows moderate …

Adoption of fiscal rules and fiscal councils continued to increase globally over the last decades
based on two new global datasets. During the pandemic, fiscal frameworks were put to …

… Abarbanell and Bernard [1992], Elgers and Murray [1992], Mendenhall [1991], and Butler
and Lang [1991]). It is unclear, however, whether the associations of prior earnings and …

… where Ba and Bp are the means of the actual and predicted betas, al is the slope coefficient
of the regression of Ba on Bp, r2a, p is the squared correlation of Ba with Bp, and VAR …

This study evaluates the relation between security returns and funds-based earnings
components. We document that proxies for market expectations of the components that are based …

This paper reassesses evidence of anticipatory income smoothing reported in DeFond and
Park (DP) (J. Accounting Econom. 23 (1997) 115) in light of knowledge about measurement …

This paper examines whether financial analysts’ forecasts of annual earnings reflect an over-weighting
of working-capital accruals that is comparable to the over-weighting implicit in …

From its earliest days, software development has been beset with challenges in relation to
timely delivery, appropriateness of features, and quality of deliverables. Many advances in …

… where rjp is the return for firm j in week p, rqp is the return in week p for an equally-weighted …
metric, R(A,P), indicates that the linear association between forecasted and actual earnings …