Valuation theory says that expected stock returns are related to three variables: the book-to-
market equity ratio (Bt/Mt), expected profitability, and expected investment. Given Bt/Mt and …

Although managers are interested in the financial value of customers and researchers have
pointed out the importance of stock analysts who advise investors, no studies to date have …

We examine whether analysts' earnings forecasts are more accurate when they also issue
cash flow forecasts. We find that (i) analysts' earnings forecasts issued together with cash …

In this paper, we focus on the conflict of interests among shareholders as a possible
determinant of earnings management. Using a sample of 3559 listed firms from the United …

This study examines the factors affecting the issuance, accuracy and usefulness of analysts'
cash flow forecasts (CFFs) in Australia. Given the economic importance of the mining …

We investigate the role of analysts' cash flow forecasts in mitigating the accrual anomaly in
an international setting. Based on a sample from 20 world market economies, we find less …

Dado que la información trasmitida mediante los estados financieros corporativos tiene gran
peso y que, por tanto, desempeña un papel central en los mercados de capitales …

We investigate whether the special item anomaly in the US exists in an environment where
the separation of non-recurring items from earnings is mandated. We use South African …

This study examines biases in stock prices and financial analysts' earnings forecasts. These
biases take the form of systematic overweighting or underweighting of the persistence …

This paper examines if the conditioning on market states is important to earnings
management behaviors and profitability of accrual hedge strategy. This paper discusses four …