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Earnings Forecasts Disclosed In Uk Ipo Prospectuses An Empirical Analysis Of The Determinants And Implications Of Their Disclosure And Accuracy Bias
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Book Synopsis Earnings Forecasts Disclosed in UK IPO Prospectuses: an Empirical Analysis of the Determinants and Implications of Their Disclosure and Accuracy/bias by : Zeina Al-Ahmad
Download or read book Earnings Forecasts Disclosed in UK IPO Prospectuses: an Empirical Analysis of the Determinants and Implications of Their Disclosure and Accuracy/bias written by Zeina Al-Ahmad and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Voluntary Disclosure of Profits Forecasts in UK IPOs Prospectuses, Its Determinants and Implications by : Zeina Al-Ahmad
Download or read book The Voluntary Disclosure of Profits Forecasts in UK IPOs Prospectuses, Its Determinants and Implications written by Zeina Al-Ahmad and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the differences between IPOs that voluntarily disclose earnings forecasts in their prospectuses and those that do not. Using a sample of 166 UK IPOs listed between 1992-2002, we investigate whether forecasters have different firms' characteristics than non forecasters and whether they perform differently in the short and medium term. The results support the hypotheses that forecasters are firms that are closer to their financial year-end, have lower past profit variability, and higher growth prospect than non forecasters. However, the initial and after market returns of forecasters are not better than that of non forecasters. We also find evidence that optimistic forecasters, ceteris paribus, significantly underperform conservative forecasters and non forecasters in the mid term. Moreover, at the time of going public, investors can use earnings predicted by time series models to asses the performance of forecasters IPOs.
Book Synopsis The Determinants of the Accuracy of Earnings Forecasts in IPO Prospectuses and Their Association with Initial IPO Returns: a Study of Greece by : Eirini Spanoudaki
Download or read book The Determinants of the Accuracy of Earnings Forecasts in IPO Prospectuses and Their Association with Initial IPO Returns: a Study of Greece written by Eirini Spanoudaki and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Accuracy of Forecast Information Disclosed in the IPO Prospectuses of Hong Kong Firms by : Bikki Jaggi
Download or read book Accuracy of Forecast Information Disclosed in the IPO Prospectuses of Hong Kong Firms written by Bikki Jaggi and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong investors as well as international investors would be interested to know how accurate are the forecasts disclosed in the Initial Public Offering (IPS) prospectuses issued by Hong Kong companies. This study has examined bias as well as accuracy of IPO forecasts disclosed from 1990 to 1994. The results of the study show that unlike IPO forecasts disclosed in most other countries, IPO forecasts disclosed by Hong Kong companies do not overestimate their earnings. Instead, the bias seems to be toward underestimation of earnings. The level of forecast accuracy is also quite high and compares favorably with that of most other countries. The results show that the level of accuracy to some extent is influenced by the company's age, i.e., how many years the company has been in business. No other firms-specific variable seems to have any influence on the accuracy level. On an overall basis, the findings of this study can be interpreted to mean the IPO forecasts disclosed by Hong Kong companies provide reliable information.
Book Synopsis An Examination of the Accuracy and Bias of Prospectus Earnings Forecasts by : K. Keasey
Download or read book An Examination of the Accuracy and Bias of Prospectus Earnings Forecasts written by K. Keasey and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Determinants of Accuracy of Management of Earnings Forecasts in UK Initial Public Offerings Prospectuses and Their Association with Initial IPO Returns 1996-2000 by : Electra-Joanna Doumas
Download or read book The Determinants of Accuracy of Management of Earnings Forecasts in UK Initial Public Offerings Prospectuses and Their Association with Initial IPO Returns 1996-2000 written by Electra-Joanna Doumas and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Determinants of the Incidence and Precision of Earnings Forecasts by : Jacob Nelson
Download or read book Determinants of the Incidence and Precision of Earnings Forecasts written by Jacob Nelson and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: I investigate two related aspects of corporate disclosure of earnings forecasts. Specifically, I empirically model managers' disclosure decisions as a sequential choice: managers first decide whether to publicly issue an earnings forecast and, if they decide to disclose, they choose the precision with which to make this disclosure. I classify point forecasts as the most precise, and all other forecasts as less precise. I estimate dichotomous choice logistic regressions for each of these decisions. I examine the effect of both capital market and product market considerations on these two aspects of the disclosure decision. Broadly, the analysis suggests that while capital market considerations are the primary determinant of the decision to disclose, product market considerations appear to be important in determining disclosure precision. In particular, disclosure precision appears to be decreasing (increasing) in proprietary costs for good (bad) news firms. This study adds to recent analytical and empirical research on the influence of product market considerations on disclosure decisions.
Book Synopsis Accuracy of Earnings Forecasts Disclosed in IPO Prospectuses by : Bingdong Xu
Download or read book Accuracy of Earnings Forecasts Disclosed in IPO Prospectuses written by Bingdong Xu and published by . This book was released on 2002 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bias, Accuracy and Rationality of Profit Forecasts Disclosed in Malaysian IPO Prospectuses and the Association of Forecast Error with Initial Returns by : Derek Adam Ferris
Download or read book Bias, Accuracy and Rationality of Profit Forecasts Disclosed in Malaysian IPO Prospectuses and the Association of Forecast Error with Initial Returns written by Derek Adam Ferris and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards by :
Download or read book Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards written by and published by . This book was released on 2009 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Determinants and Consequences of Managerial Earnings Guidance Prior to Regulation Fair Disclosure by : Amy P. Hutton
Download or read book The Determinants and Consequences of Managerial Earnings Guidance Prior to Regulation Fair Disclosure written by Amy P. Hutton and published by . This book was released on 2002 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Prior to Regulation Fair Disclosure some management spent considerable time and effort guiding analyst earnings estimates; other management did not. In this paper I examine the determinants and consequences of management's decision to work with analysts in the development of their earnings estimates using proprietary survey data from the National Investor Relations Institute. Findings suggest that when earnings are important to valuation but hard to forecast because businesses and financial transactions are complex, management is more likely to provide assistance to analysts presumably to avoid inaccurate analyst forecasts and negative earnings surprises. A comparison of guided and unguided analyst forecasts indicates that guided quarterly earnings forecasts are more accurate but also more frequently pessimistic, consistent with analysts rationally trading offbias for accuracy to retain access to management's earnings guidance. Cross-sample comparisons of analysts' stock recommendations and long-term growth forecasts provide additional support for the hypothesis that analyst objectivity and independence is affected by management's decision to provide earnings guidance. Finally, evidence from stock price reactions to deviations from the consensus forecast (the traditional measure of earnings surprises) indicates that investors distinguish between guided and unguided analyst forecasts when forming their earnings expectations. This study furthers our understanding of what factors affect management's disclosure choices and how managers' disclosure choices influence the objectivity and independence of sell-side analysts.
Book Synopsis Earnings Management by : Joshua Ronen
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008-08-06 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Book Synopsis A Survey of the European IPO Market by :
Download or read book A Survey of the European IPO Market written by and published by CEPS. This book was released on 2006 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Securities Market Issues for the 21st Century by : Merritt B. Fox
Download or read book Securities Market Issues for the 21st Century written by Merritt B. Fox and published by . This book was released on 2018 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capitalizing China by : Joseph P. H. Fan
Download or read book Capitalizing China written by Joseph P. H. Fan and published by University of Chicago Press. This book was released on 2013 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."
Book Synopsis Integrated Reporting by : Cristiano Busco
Download or read book Integrated Reporting written by Cristiano Busco and published by Springer Science & Business Media. This book was released on 2013-11-27 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on Integrated Reporting as a contemporary social and managerial innovation where a number of initiatives, organizations and individuals began to converge in response to the need for a consistent, collaborative and internationally accepted approach to redesign corporate reporting. Integrated Reporting is a process that results in communication of the annual “integrated report” which describes value creation over time. An integrated report is a concise communication about how an organization’s strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term. This book offers a fresh perspective with expert contributions focusing on both the theoretical underpinnings and the practical challenges for the future of corporate reporting.
Download or read book 中华人民共和国证劵法 written by China and published by . This book was released on 2000 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
