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March 18, 2026The Accounting Review

A Note on the Informational Content of Corporate Annual Earnings Forecasts.

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Authors

BJBikki Jaggi

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Overview

Examines earnings forecasts and their impact on stock prices, suggesting they influence investor expectations.

Key Points

  • The central aim is to determine if management's annual earnings forecasts provide valuable information to investors affecting their decision-making.
  • Analyzed the impact of earnings forecasts on daily stock prices
  • Measured changes in stock prices around earnings disclosure dates
  • Tested significance under symmetric stable distribution assumption
  • Utilized buy- and sell-short strategies for calculating averages and residuals
  • Earnings forecasts led to price adjustments around disclosure dates
  • Investors modified expectations based on the forecast information
  • Impacts are primarily related to voluntary disclosures rather than mandatory ones

Cite This Study

Bikki Jaggi (1978) studied this question.

synapsesocial.com/papers/69ba42bc4e9516ffd37a34d2https://doi.org/10.2308/tar-4482537
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1The Stock Price Effects of Alternative Types of Management Earnings Forecasts.1993 · 3 citations
  2. 2Associations Between Forecast Errors and Excess Returns Near to Earnings Announcements.1987
  3. 3Further Evidence on the Representativeness of Management Earnings Forecasts .1985
  4. 4Investor Trading Responses to Differing Characteristics of Voluntarily Disclosed Earnings Forecasts.1979
  5. 5Security Price Response to Quarterly Earnings Announcements and Analysts' Forecast Revisions.1989