We analyze a procedure common in empirical accounting and finance research where
researchers use ordinary least squares to decompose a dependent variable into its …

Corporate investment decisions require managers to forecast expected future cash flows
from potential investments. Although these forecasts are a critical component of successful …

This paper synthesizes the literature on management earnings forecasts (MFs) and adaption
mechanisms, combines existing theories into a unifying framework, and discusses the …

Human estimation and inference are subject to systematic biases such as overconfidence
and over-optimism. In contrast to prior research that has identified multiple negative …

In this paper, we first document evidence of underreaction to management forecast news.
We then hypothesize that the credibility of the forecast influences the magnitude of this …

This study examines the association between corporate social responsibility (CSR) and
management forecast accuracy. Using data from 1995 to 2009, we find that firms provide …

The accounting literature has used the midpoint of range forecasts in various research
settings, assuming that the midpoint is the best proxy for managers' earnings expectations …

We investigate the relationship between cost stickiness and management earnings
forecasts. Prior research suggests that earnings are more volatile for sticky cost firms …

This study provides novel evidence that expert economic agents' work-related activities are
systematically influenced by the time of day. We use archival data derived from time …

This study investigates whether investor sentiment is associated with behavioral bias in
managers' annual earnings forecasts that are generally issued early in the year when …