No reliance on guidance: counter‐signaling in management forecasts.
This study presents and provides an explanation for a novel stylized fact: both high‐performing and troubled companies withhold issuing earnings guidance. We assume that the manager's ability affects the level of earnings and the accuracy of guidance, but issuing a forecast is costless for all manag...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 52; no. 1; pp. 207 - 246 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Mar2021
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |