메뉴 건너뛰기




Volumn 48, Issue 1, 2010, Pages 123-146

Investors' reactions to management earnings guidance: The joint effect of investment position, news valence, and guidance form

Author keywords

[No Author keywords available]

Indexed keywords


EID: 74549191935     PISSN: 00218456     EISSN: 1475679X     Source Type: Journal    
DOI: 10.1111/j.1475-679X.2009.00350.x     Document Type: Article
Times cited : (39)

References (36)
  • 1
    • 18244391272 scopus 로고
    • The effects of management forecast precision on equity pricing and on the assessment of earnings uncertainty
    • Baginski, S. P. E. J. Conrad and J. M. Hassell The Effects of Management Forecast Precision on Equity Pricing and on the Assessment of Earnings Uncertainty The Accounting Review 68 (1993 913 927.
    • (1993) The Accounting Review , vol.68 , pp. 913-927
    • Baginski, S.P.1    Conrad, E.J.2    Hassell, J.M.3
  • 2
    • 0031287880 scopus 로고    scopus 로고
    • Determinants of management forecast precision
    • Baginski, S. P., and J. M. Hassell Determinants of Management Forecast Precision The Accounting Review 72 (1997 303 312.
    • (1997) The Accounting Review , vol.72 , pp. 303-312
    • Baginski, S.P.1    Hassell, J.M.2
  • 3
    • 23944468742 scopus 로고    scopus 로고
    • To blame or not to blame: Analysts' reactions to external explanations for poor financial performance
    • Barton, J., and M. Mercer To Blame or Not to Blame: Analysts' Reactions to External Explanations for Poor Financial Performance Journal of Accounting and Economics 39 (2005 509 533.
    • (2005) Journal of Accounting and Economics , vol.39 , pp. 509-533
    • Barton, J.1    Mercer, M.2
  • 5
    • 85047681068 scopus 로고
    • Heuristic versus systematic information processing and the use of source versus message cues in persuasion
    • Chaiken, S. Heuristic versus Systematic Information Processing and the Use of Source versus Message Cues in Persuasion Journal of Personality and Social Psychology 39 (1980 752 766.
    • (1980) Journal of Personality and Social Psychology , vol.39 , pp. 752-766
    • Chaiken, S.1
  • 6
    • 0042475412 scopus 로고    scopus 로고
    • Confirming management earnings forecasts, earnings uncertainty, and stock returns
    • Clement, M. R. Frankel and J. Miller Confirming Management Earnings Forecasts, Earnings Uncertainty, and Stock Returns Journal of Accounting Research 41 (2003 653 679.
    • (2003) Journal of Accounting Research , vol.41 , pp. 653-679
    • Clement, M.1    Frankel, R.2    Miller, J.3
  • 7
    • 33749345494 scopus 로고    scopus 로고
    • Expectations management and beatable targets: How do analysts react to explicit earnings guidance?
    • and
    • Cotter, J. I. Tuna and P. D. Wysocki Expectations Management and Beatable Targets: How Do Analysts React to Explicit Earnings Guidance? Contemporary Accounting Research 23 (2006 593 624.
    • (2006) Contemporary Accounting Research , vol.23 , pp. 593-624
    • Cotter, J.1    Tuna, I.2    Wysocki, P.D.3
  • 10
    • 34247368070 scopus 로고    scopus 로고
    • Directional preferences, information processing, and investors' forecasts of earnings
    • Hales, J. Directional Preferences, Information Processing, and Investors' Forecasts of Earnings Journal of Accounting Research 45 (2007 607 628.
    • (2007) Journal of Accounting Research , vol.45 , pp. 607-628
    • Hales, J.1
  • 11
    • 34247543910 scopus 로고    scopus 로고
    • Investors' reactions to management guidance forms: The influence of multiple benchmarks
    • Han, J., and H. T. Tan Investors' Reactions to Management Guidance Forms: The Influence of Multiple Benchmarks The Accounting Review 82 (2007 521 543.
    • (2007) The Accounting Review , vol.82 , pp. 521-543
    • Han, J.1    Tan, H.T.2
  • 12
    • 0002655572 scopus 로고
    • Relative forecast accuracy and the timing of earnings forecast announcements
    • Hassell, J. M., and R. H. Jennings Relative Forecast Accuracy and the Timing of Earnings Forecast Announcements The Accounting Review 61 (1986 58 75.
    • (1986) The Accounting Review , vol.61 , pp. 58-75
    • Hassell, J.M.1    Jennings, R.H.2
  • 13
    • 0012319054 scopus 로고    scopus 로고
    • Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature
    • Healy, P. M., and K. G. Palepu Information Asymmetry, Corporate Disclosure, and the Capital Markets: A Review of the Empirical Disclosure Literature Journal of Accounting and Economics 31 (2001 405 440.
    • (2001) Journal of Accounting and Economics , vol.31 , pp. 405-440
    • Healy, P.M.1    Palepu, K.G.2
  • 14
    • 18944380686 scopus 로고    scopus 로고
    • The joint effect of management's prior forecast accuracy and the form of its financial forecast on investor judgment
    • Hirst, D. E. L. Koonce and J. Miller The Joint Effect of Management's Prior Forecast Accuracy and the Form of Its Financial Forecast on Investor Judgment Journal of Accounting Research 37 (1999 101 124.
    • (1999) Journal of Accounting Research , vol.37 , pp. 101-124
    • Hirst, D.E.1    Koonce, L.2    Miller, J.3
  • 15
    • 0002604908 scopus 로고    scopus 로고
    • The relevance of value-relevance literature for financial accounting standard setting
    • and
    • Holthausen, R., and R. Watts The Relevance of Value-relevance Literature for Financial Accounting Standard Setting Journal of Accounting and Economics 31 (2001 3 75.
    • (2001) Journal of Accounting and Economics , vol.31 , pp. 3-75
    • Holthausen, R.1    Watts, R.2
  • 16
    • 58149320313 scopus 로고
    • Elastic justification: How tempting but task-irrelevant factors influence decisions
    • Hsee, C. K. Elastic Justification: How Tempting But Task-Irrelevant Factors Influence Decisions Organizational Behavior and Human Decision Processes 62 (1995 330 337.
    • (1995) Organizational Behavior and Human Decision Processes , vol.62 , pp. 330-337
    • Hsee, C.K.1
  • 17
    • 0030123780 scopus 로고    scopus 로고
    • Elastic justification: How unjustifiable factors influence judgments
    • Hsee, C. K. Elastic Justification: How Unjustifiable Factors Influence Judgments Organizational Behavior and Human Decision Processes 66 (1996 122 129.
    • (1996) Organizational Behavior and Human Decision Processes , vol.66 , pp. 122-129
    • Hsee, C.K.1
  • 18
    • 0346267870 scopus 로고    scopus 로고
    • The role of supplementary statements with management earnings forecasts
    • Hutton, A. P. G. S. Miller and D. J. Skinner The Role of Supplementary Statements with Management Earnings Forecasts Journal of Accounting Research 41 (2003 867 889.
    • (2003) Journal of Accounting Research , vol.41 , pp. 867-889
    • Hutton, A.P.1    Miller, G.S.2    Skinner, D.J.3
  • 19
    • 33750376696 scopus 로고    scopus 로고
    • The effect of issuing biased earnings forecasts on analysts' access to management and survival
    • and
    • Ke, B., and Y. Yu The Effect of Issuing Biased Earnings Forecasts on Analysts' Access to Management and Survival Journal of Accounting Research 44 (2006 965 1000.
    • (2006) Journal of Accounting Research , vol.44 , pp. 965-1000
    • Ke, B.1    Yu, Y.2
  • 20
    • 20144381097 scopus 로고    scopus 로고
    • Discussion of the joint effect of management's prior forecast accuracy and the form of its financial forecast on investor judgment
    • Kennedy, J. Discussion of The Joint Effect of Management's Prior Forecast Accuracy and the Form of Its Financial Forecast on Investor Judgment Journal of Accounting Research 37 (1999 125 134.
    • (1999) Journal of Accounting Research , vol.37 , pp. 125-134
    • Kennedy, J.1
  • 21
    • 0001639661 scopus 로고    scopus 로고
    • Data analysis in social psychology
    • and. in. edited by. D. Gilbert. S. Fiske. and. G. Lindzey. Boston, MA. McGraw
    • Kenny, D. A. D. A. Kashy and N. Bolger Data Analysis in Social Psychology in The Handbook of Social Psychology Vol. 1, edited by D. Gilbert, S. Fiske and G. Lindzey. Boston, MA : McGraw-Hill, 1998 : 233 65.
    • (1998) The Handbook of Social Psychology , vol.1 , pp. 233-265
    • Kenny, D.A.1    Kashy, D.A.2    Bolger, N.3
  • 23
    • 0025520005 scopus 로고
    • The case for motivated reasoning
    • Kunda, Z. The Case for Motivated Reasoning Psychological Bulletin 108 (1990 480 498.
    • (1990) Psychological Bulletin , vol.108 , pp. 480-498
    • Kunda, Z.1
  • 25
    • 0001464179 scopus 로고    scopus 로고
    • Voluntary disclosure and equity offerings: Reducing information asymmetry or hyping the stock?
    • Lang, M. H., and R. J. Lundholm Voluntary Disclosure and Equity Offerings: Reducing Information Asymmetry or Hyping the Stock? Contemporary Accounting Research 17 (2000 623 662.
    • (2000) Contemporary Accounting Research , vol.17 , pp. 623-662
    • Lang, M.H.1    Lundholm, R.J.2
  • 27
    • 38349022279 scopus 로고    scopus 로고
    • Relationship incentives and the optimistic/pessimistic pattern in analysts' forecasts
    • Libby, R. J. E. Hunton H.T. Tan and N. Seybert Relationship Incentives and the Optimistic/Pessimistic Pattern in Analysts' Forecasts Journal of Accounting Research 46 (2008 173 198.
    • (2008) Journal of Accounting Research , vol.46 , pp. 173-198
    • Libby, R.1    Hunton, J.E.2    Tan, H.T.3    Seybert, N.4
  • 28
    • 33644699047 scopus 로고    scopus 로고
    • Does the form of managements' earnings guidance affect analysts' earnings forecasts?
    • Libby, R. H. T. Tan and J. E. Hunton Does the Form of Managements' Earnings Guidance Affect Analysts' Earnings Forecasts? The Accounting Review 81 (2006 251 270.
    • (2006) The Accounting Review , vol.81 , pp. 251-270
    • Libby, R.1    Tan, H.T.2    Hunton, J.E.3
  • 29
    • 38249027920 scopus 로고
    • Guess who might be coming for dinner? personal involvement and racial stereotyping
    • Omoto, A. M., and E. Borgida Guess Who Might Be Coming for Dinner? Personal Involvement and Racial Stereotyping Journal of Experimental Social Psychology 24 (1988 571 593.
    • (1988) Journal of Experimental Social Psychology , vol.24 , pp. 571-593
    • Omoto, A.M.1    Borgida, E.2
  • 30
    • 0000428577 scopus 로고
    • Central and peripheral routes to advertising effectiveness: The moderating role of involvement
    • Petty, R. E. J. T. Cacioppo and D. Schumann Central and Peripheral Routes to Advertising Effectiveness: The Moderating Role of Involvement Journal of Consumer Research 10 (1983 135 156.
    • (1983) Journal of Consumer Research , vol.10 , pp. 135-156
    • Petty, R.E.1    Cacioppo, J.T.2    Schumann, D.3
  • 31
    • 21344492705 scopus 로고
    • The stock price effects of alternative types of management earnings forecasts
    • Pownall, G. C. Wasley and G. Waymire The Stock Price Effects of Alternative Types of Management Earnings Forecasts The Accounting Review 68 (1993 896 912.
    • (1993) The Accounting Review , vol.68 , pp. 896-912
    • Pownall, G.1    Wasley, C.2    Waymire, G.3
  • 32
    • 84995044790 scopus 로고
    • Some things you learn aren't so: Cohen's paradox, asch's paradigm, and the interpretation of interaction
    • Rosnow, R. L., and R. Rosenthal Some Things You Learn Aren't So: Cohen's Paradox, Asch's Paradigm, and the Interpretation of Interaction Psychological Science 6 (1995 3 9.
    • (1995) Psychological Science , vol.6 , pp. 3-9
    • Rosnow, R.L.1    Rosenthal, R.2
  • 33
    • 84984210900 scopus 로고
    • Accounting and the credibility of management forecasts
    • Sansing, R. C. Accounting and the Credibility of Management Forecasts Contemporary Accounting Research 9 (1992 33 45.
    • (1992) Contemporary Accounting Research , vol.9 , pp. 33-45
    • Sansing, R.C.1
  • 34
    • 0036405289 scopus 로고    scopus 로고
    • Stretching the truth: Elastic justification and motivated communication of uncertain information
    • Schweitzer, M. E., and C. K. Hsee Stretching the Truth: Elastic Justification and Motivated Communication of Uncertain Information Journal of Risk and Uncertainty 25 (2002 185 201.
    • (2002) Journal of Risk and Uncertainty , vol.25 , pp. 185-201
    • Schweitzer, M.E.1    Hsee, C.K.2
  • 36
    • 74549183725 scopus 로고    scopus 로고
    • When do analysts adjust for biases in management guidance? effects of guidance track record and analysts' incentives
    • in press
    • Tan, H. T., R. Libby, and J. E. Hunton When Do Analysts Adjust for Biases in Management Guidance? Effects of Guidance Track Record and Analysts' Incentives Contemporary Accounting Research (in press 2010.
    • (2010) Contemporary Accounting Research
    • Tan, H.T.1    Libby, R.2    Hunton, J.E.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.