Results in table 1 suggest that 68% of thai listed companies voluntarily issue their management forecasts to the public at least once during our sample periods. On average, each firm issues approximately 8.46 forecasts per year.however,most fitms issue only one forecast per year during the sample periods. Results also suggest thst firms in the property and construction (93%), resources (88%), and technology (86%) sectors have the highest tendency to release management forecasata while firms in the nonperforming group (25%) have the lowest tendency to release management forecasts industries. A plausible explanation is thas most of firms in property and construction,resources,and technology indystries industries are in SET50 (i.e., firms in top fifty ranking which have high market capitazation) and have a large analyst fillowing. These firms may maintain a good relationship with analysts and investors by providing more information via management forecastsv [skinner (1994),Supattarakul(2003),and Chen (2003)].
Results in table 1 suggest that 68% of thai listed companies voluntarily issue their management forecasts to the public at least once during our sample periods. On average, each firm issues approximately 8.46 forecasts per year.however,most fitms issue only one forecast per year during the sample periods. Results also suggest thst firms in the property and construction (93%), resources (88%), and technology (86%) sectors have the highest tendency to release management forecasata while firms in the nonperforming group (25%) have the lowest tendency to release management forecasts industries. A plausible explanation is thas most of firms in property and construction,resources,and technology indystries industries are in SET50 (i.e., firms in top fifty ranking which have high market capitazation) and have a large analyst fillowing. These firms may maintain a good relationship with analysts and investors by providing more information via management forecastsv [skinner (1994),Supattarakul(2003),and Chen (2003)].
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