On the Association between Voluntary Disclosure and Earnings Management
研究发布年度盈利预测的管理者是否会为了规避投资者诉讼和声誉损失，通过会计决策将报告盈余向预测值靠拢，并分析预测误差成本对盈余管理程度的影响。
This study investigates whether managers who issue annual earnings forecasts manage reported earnings toward their forecasts, fearing legal actions by investors and loss of reputation for accuracy. I hypothesize that managers make income-increasing (decreasing) accounting decisions when earnings would otherwise be below (above) management forecasts, and that the earnings management activity is increasing in expected forecast error costs.1 These costs are likely higher for overestimates than for underestimates and are increasing in the magnitude of the forecast