How Frequently Do Managers Disclose Prospective Earnings Information?

How Frequently Do Managers Disclose Prospective Earnings Information?

It has long been perceived that firms infrequently release prospective earnings disclosures. It is this perception - actually an open question that has not been resolved by research - that has motivated legislation and policy and industry studies for at least 20 years. An examination of the disclosu...

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Veröffentlicht in:Journal of financial statement analysis 1998-04, Vol.3 (3), p.5
Hauptverfasser: Kile, Charles, Pownall, Grace, Waymire, Gregory
Format: Artikel
Sprache:eng
Schlagworte:
Annual reports
Disclosure
Earnings trends
Estimates
Financial reporting
Information dissemination
Investments
Safe harbor
Stock exchanges
Studies
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Zusammenfassung:It has long been perceived that firms infrequently release prospective earnings disclosures. It is this perception - actually an open question that has not been resolved by research - that has motivated legislation and policy and industry studies for at least 20 years. An examination of the disclosures of a sample of 145 exchange-listed and OTC firms over a 10-year period documents that the frequency of prospective earnings disclosure is considerably higher than estimates provided by 1981 and 1995 surveys. Only 16% of the sample firms made no prospective disclosures in the period.
ISSN:1085-3464