The corporate information environment develops endogenously as a consequence of
information asymmetries and agency problems between investors, entrepreneurs, and …

In this paper, we provide a framework in which to view management earnings forecasts.
Specifically, we categorize earnings forecasts as having three components—antecedents …

This study examines analyst information intermediary roles using a textual analysis of
analyst reports and corporate disclosures. We employ a topic modeling methodology from …

Policy uncertainty (PU) influences the financial and investment decisions of the firm. We use
global data to extend the nascent empirical finance literature on policy uncertainty by …

We examine the association between changes in companies' textual risk disclosures in 10-K
filings and changes in stock market and analyst activity around the filings. We find that …

In this study, we examine the relation between chief executive officer (CEO) ability and
management earnings forecasts. Trueman (1986) theorizes that, because a manager's …

We study how corporate boards and audit committees are associated with voluntary
financial disclosure practices, proxied here by management earnings forecasts. We find that …

We investigate whether earnings guidance affects aggregate stock returns through its effects
on expectations about overall earnings performance and/or aggregate expected returns. We …

This paper adopts and reviews discretionary disclosure and cheap talk models to analyze
risk reporting incentives and their relation to regulation. Given its inherent discretion, risk …

We re-examine the widely held belief that analysts' earnings per share (EPS) forecasts are
superior to random walk (RW) time-series forecasts. We investigate whether analysts' …