CEO Ability and Management Earnings Forecasts
- 한국회계학회
- 한국회계학회 학술연구발표회 논문집
- 2008년도 동계학술대회 발표논문집
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2008.121 - 39 (39 pages)
- 78
We examine the relation between CEO ability and management earnings forecasts. Trueman (1986) theorizes that high ability managers use forecasts to signal their ability to anticipate changes in their firms¡ underlying economics. Using recently developed proxies for managerial ability, we find that the likelihood of issuing a management earnings forecast, and the forecast properties of accuracy, frequency, timeliness, and value relevance increase with CEO ability. Overall, our paper complements the voluntary disclosure literature by highlighting the importance of CEO ability in determining management earnings forecasts and attributes of these forecasts.
1. Introduction
2. Literature Review and Hypotheses
3. Sample and Data
4. Research Design
5. Empirical Results
6. Alternative measure of CEO Ability
7. Summary and Conclusions
References
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