We investigate analysts' motives for rounding annual EPS forecasts (placing a zero or five in
the penny location of the forecast). We first show that an intuitive reason for analysts to …

This paper conducts a natural experiment of three irregularities noted in prior research
related to reported earnings per share (EPS), arguably the most important performance …

This paper examines the existence of financial statement manipulation in the US during a
time period when many of the current motivations did not exist. The study looks for types of …

Whether discretionary disclosure of accounting estimates increases or decreases the
decision usefulness of financial information is a fundamental issue in accounting and …

We investigate whether compensation grants are subject to “heaping,” the tendency of less
informed individuals to provide round values when reporting estimates of discrete data. We …

Prior research suggests that investors focus on subsets of more salient information when
making economic decisions. We extend this research by examining the variation in investor …

We hypothesize that managers anticipate a disproportionately larger price increase
associated with rounded earnings per share (EPS) and make additional effort to round EPS …

In this study, we examine the extent of dividend heaping in Australian firms between 1976
and 2015. Our findings show that 27.39% of dividends greater than or equal to 2.5-cents are …

Purpose Prior studies have documented the phenomenon of rounding of analysts' earnings
per share (EPS) forecasts in the USA. From the outset, it is unclear if analysts following …

摘要本文考察上市公司管理层业绩预测披露中通过取整模糊预测的行为. 研究发现,
上市公司在发布业绩预测时倾向于以一定基数的倍数取整, 而公司的实际盈余却很少是这些基数 …