These studies investigate
management forecast disclosures provided by
Taiwan IPO firms [Jaggi et al. (2006)], Malaysian
IPO firms [Jelic et al. (1998)], and Danish IPO firms
[Gramlich and Sorensen (2004)]. Kato etal. (2009)
examine management forecast disclosures in Japan
in a general setting. However, management forecast
disclosure in Japan is a mandatory disclosure