... forecast informativeness, consistent with predictions of theoretical cheap talk models. Our findings also indicate that both upward and downward LTG guidance provide incremental information about future earnings growth, and that analysts revise their LTG forecasts in the direction of LTG guidance. Overall...

...Wen He; Chien-Ju Lu SYNOPSIS This study uses mandatory adoption of IFRS as a setting to investigate why financial analysts issue supplementary sales forecasts. The demand explanation proposes that analysts issue supplementary forecasts if earnings are not informative and thus investors demand...

...-acquisition profitability. We find that investors and analysts appear to recognize the effects of IPR&D in assessing post-acquisition profitability of the combined entity. The findings also suggest that investors and analysts do not appear to fully incorporate the accounting effects related...