in Table 2 reveal a majority of
forecast firms in our sample issue one to fifteen
management forecasts during the sample period.
Specifically, 39% of forecast firms issue one to
five management forecasts, 26% of forecast firms
issue five to ten management forecasts, and 21%
of forecast firms issue ten to fifteen management
forecasts. On average, forecast firms disclose
approximately 8–9 forecasts per year.
Since management forecasts are provided
before earnings announcement dates, management
may decide to issue a forecast before or after the
end of accounting period. Table 3 presents results
on forecast timing (e.g., before or after the end of
an accounting period). Since financial statements
are prepared for quarterly and annual period, we
additionally disaggregate forecast timing by forecast
horizon (e.g., quarterly or annual forecasts).
in Table 2 reveal a majority offorecast firms in our sample issue one to fifteenmanagement forecasts during the sample period.Specifically, 39% of forecast firms issue one tofive management forecasts, 26% of forecast firmsissue five to ten management forecasts, and 21%of forecast firms issue ten to fifteen managementforecasts. On average, forecast firms discloseapproximately 8–9 forecasts per year.Since management forecasts are providedbefore earnings announcement dates, managementmay decide to issue a forecast before or after theend of accounting period. Table 3 presents resultson forecast timing (e.g., before or after the end ofan accounting period). Since financial statementsare prepared for quarterly and annual period, weadditionally disaggregate forecast timing by forecasthorizon (e.g., quarterly or annual forecasts).
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