000			01853nab a2200217 4500
999			_c199661 _d199661
003			OSt
005			20200226102053.0
008			200129s2016 xxu|||||r|||| 00| 0 eng d
040			_aCO-BoUGC _cCO-BoUGC
100	1		_aHeflin, Frank _9178466
245	1	0	_aAsymmetric effects of regulation FD on management earnings forecasts _cFrank Heflin, William J. Kross & Inho Suk
300			_aPáginas 119 a la 152
520	3		_aWe document that the effect of Regulation Fair Disclosure (FD) on public management earnings forecasts (MFs) is asymmetric. Our results suggest that FD increased managers' use of MFs as a downward-guidance mechanism to help achieve meeting or beating earnings expectations. This effect is more pronounced when existing analyst forecasts are optimistic and when firms had selective disclosure policies pre-FD. We also find that the increased use of MFs as downward guidance leads to post-FD reductions in MF quality (accuracy and informativeness) for the downward guiding MFs that are most likely meet/beat motivated, while quality improves for upward-guiding MFs. Finally, our evidence suggests that results from prior research about FD-induced changes in information environment variables, such as analyst forecast quality and investor trading activities, depend on whether the firm issues MFs and whether those MFs are downward guiding.
650	1	4	_991036 _aContabilidad _vPublicaciones seriadas
650	2	4	_9177412 _aValores _xLegislación _zEstados Unidos _vPublicaciones seriadas
650	2	4	_aPronósticos de los negocios _vPublicaciones seriadas _9178467
700	1		_aKross, William J. _9178468
700	1		_aSuk, Inho _9178469
773	0		_082265 _9372813 _aThe accounting review 2016 V.91 No. 1 (Jan) _o0000002030250 _x0001-4826 (papel) _h33 páginas _nIncluye tablas, figuras y referencias bibliográficas
942			_2ddc _cART