Abstract

http://ssrn.com/abstract=901837
 
 

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Bundled Forecasts in Empirical Accounting Research


Jonathan L. Rogers


University of Chicago - Booth School of Business

Andrew Van Buskirk


Ohio State University (OSU) - Department of Accounting & Management Information Systems

June 13, 2011

Journal of Accounting & Economics (JAE), Forthcoming
Chicago Booth Research Paper No. 09-37

Abstract:     
This paper examines “bundled” forecasts, or management earnings forecasts issued concurrently with earnings announcements, which have evolved to become the most common type of management forecast. We describe the econometric problems associated with measuring bundled forecast news and, in particular, provide evidence that the measurement error in the traditional calculation of forecast news is material and is systematically associated with variables frequently studied in forecast-related research. We illustrate an application of conditional expectations to overcome these problems. Finally, we offer guidance and caveats to researchers considering the use of this method in the future.

Number of Pages in PDF File: 69

Keywords: Management Forecasts, conference calls, Regulation FD, earnings announcements

JEL Classification: M41, M45, D82, G14

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Date posted: May 17, 2006 ; Last revised: June 20, 2012

Suggested Citation

Rogers, Jonathan L. and Van Buskirk, Andrew, Bundled Forecasts in Empirical Accounting Research (June 13, 2011). Journal of Accounting & Economics (JAE), Forthcoming; Chicago Booth Research Paper No. 09-37. Available at SSRN: http://ssrn.com/abstract=901837 or http://dx.doi.org/10.2139/ssrn.901837

Contact Information

Jonathan L. Rogers
University of Chicago - Booth School of Business ( email )
5807 S Woodlawn
Chicago, IL 60637-1561
United States
773-834-0161 (Phone)
Andrew Van Buskirk (Contact Author)
Ohio State University (OSU) - Department of Accounting & Management Information Systems ( email )
2100 Neil Avenue
Columbus, OH 43210
United States
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