Waymire (1984), and Pownall and Waymire (1989) because these forecast forms are easier to measure forecast bias. However, a recent study provides descriptive evidence that more than half of management forecast samples are in qualitative form. Kasznik and Lev (1995) show that more than half of their management forecast samples are in
qualitative disclosures. Investigating management forecast disclosures in Netherlands, Dorsmanet al. (2003) find that over 60% of listed companies in Netherlands release qualitative management forecasts