Answers are grounded in this paper and cite their sources.
D. Eric Hirst, Lisa Koonce, Jeffrey Miller, The Joint Effect of Management's Prior Forecast Accuracy and the Form of Its Financial Forecasts on Investor Judgment, Journal of Accounting Research, Vol. 37, Studies on Credible Financial Reporting (1999), pp. 101-124
No takes yet. Share an insight, caveat, or question.
Hirst et al. (1999) studied this question.
Synapse has enriched 10 related papers. Consider them for comparative context: