Download This PaperAnalyst Reaction to Nonarticulation Between the Statement of Cash Flows and the Balance Sheet
Frischmann, P., Lin, K. and Wang, D. (2019), "Analyst reaction to non-articulation between the balance sheet and the statement of cash flows", Journal of Applied Accounting Research, Forthcoming
39 Pages Posted: 3 Jan 2020
Date Written: December 2, 2019
Abstract
We investigate the effect of non-articulation on analyst earnings forecast quality. We look for evidence on the relationship between non-articulation and analyst earnings forecast properties: forecast inaccuracy, forecast dispersion, and forecast bias. As we would expect that non-articulation obscures accounting information available to analysts, we posit that non-articulation increases forecast inaccuracy and forecast dispersion.
Keywords: nonarticulation, articulation errors, financial analyst, earnings forecasts, cash flow forecast, forecast inaccuracy, forecast dispersion, forecast bias
JEL Classification: M41; G17; G24
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