.... algorithmic trading high-frequency trading voluntary disclosure management forecasts Algorithmic trading (AT) uses computer programs to automate the submission and cancelation of orders in financial markets ( Hendershott, Jones, and Menkveld 2011 ). Already comprising more than 50 percent...

... and judgments. JEL Classifications: M41; D91; G41; G31. 2023 corporate investments inventories financial misreporting management forecasts optimistic expectations motivated reasoning One of the fundamental questions in corporate finance is how firms make investment decisions. Since...

... that higher-degree connections can have an economically significant effect on the accuracy of management forecasts, regardless of firms' board interlocks. Further analyses point toward well-connected directors' ability to provide managers with valuable advice in a forecasting context, which complements...

... funds earnings announcements management forecasts information processing price efficiency trading volume We thank Russell Jame for providing his list of hedge funds, Salman Arif and Azi Ben-Rephael for many helpful discussions and comments, Mark T. Bradshaw (editor), two anonymous...

..., Ontario, Canada. Editor's note: Accepted by Gregory J. Clinch, under the Senior Editorship of Mary E. Barth. 1 2 2017 1 2 2020 2021 innovation patents voluntary disclosure management forecasts Although innovation can enable a company to achieve higher profit...

... attention. ¹ One novel aspect of this finding is that managers reduce disclosure without worsening information quality or liquidity. disclosure management forecasts 8-K filings information quality liquidity institutional ownership passive investors monitoring Much research...

...Jeremy Bertomeu; Paul Ma; Iván Marinovic ABSTRACT We estimate a dynamic model of voluntary disclosure, using annual management forecasts of earnings, that features a manager with price motives and an uncertain, but persistent, information endowment. Our estimates imply that: (1) managers face...

...Albert Tsang; Fei Xie; Xiangang Xin ABSTRACT We examine the impact of foreign institutional investors on firms' voluntary disclosure practices measured by management forecasts. In a sample of 32 non-U.S. countries, we find that, on average, foreign institutional investments lead to improved...

... at Duke University. Editor's note: Accepted by Mark T. Bradshaw, under the Senior Editorship of Mark L. DeFond. October 2016 April 2018 2019 voluntary disclosure management forecasts credit rating agencies CRA reputation statistical learning content analytics...

...Stephen P. Baginski; Lisa A. Hinson ABSTRACT We document the interrelationship of disclosure policy decisions among firms by providing evidence that the cessation of quarterly management forecast guidance by 656 firms (“stoppers”) during 2004–2009 is associated with a pursuant increase...

....” Supplemental material can be accessed by clicking the link in Appendix A. Editor's note: Accepted by Morton Pincus. February 2014 July 2015 2016 voluntary disclosure IFRS management forecasts legal regime capital-market demand In 2005, more than two dozen countries...

...Edward Xuejun Li ABSTRACT: Extant research on voluntary disclosure about future prospects has focused on two forward-looking disclosure mechanisms: management forecasts and conference calls. This study examines the accelerated filing of material contracts as another type of future-related...