We carefully construct measures of earnings forecast accuracy and recommendation profitability that enable us to examine the association between the qualities of these two key outputs of individual security analysts. We find that analysts with superior earnings forecasts issue significantly more profitable recommendations than those with less accurate forecasts. The average annual recommendatio...

Equity analysts’ target price can be decomposed into two components: the earnings forecast and the price-to-earnings (P/E) ratio forecast, with the former containing shortterm earnings news and the latter containing news about long-term earnings growth and discount rates. Using a large database of target prices from 1997 to 2004, we document that both components are important in driving target ...

This paper projects lifetime Social Security earnings until retirement using data from the Survey of Income and Program Participation (SIPP) matched to Social Security records of annual earnings from 1951 through 1993. We first develop, estimate and test gender-specific multiple regression models of ten-year earnings intervals using the matched 1984 SIPP panel. We find strong relationships pred...

This paper projects lifetime Social Security earnings until retirement using data from the Survey of Income and Program Participation (SIPP) matched to Social Security records of annual earnings from 1951 through 1993. We first develop, estimate and test gender-specific multiple regression models of ten-year earnings intervals using the matched 1984 SIPP panel. We find strong relationships pred...

accounting earning represents the positive performance of companies during theirpertinent financial periods, thus it is assumed that accounting earning will benoted by investors, which could contribute to the optimum allocation of resourcesto successful companies. it can also play a major role in the economic growth anddevelopment of a society. this research focuses in the relationship between ...

Do analysts serve as external monitors to managers, or do they put excessive pressure on managers? This study examines the role analysts play in corporate governance by focusing on the effect that their scrutiny has on earnings management. Controlling for other firm characteristics, including institutional ownership, I find that firms followed by more analysts manage their earnings less. To add...

The study objects for investigating the possibility of activating both audit committee and board of directors for restricting the practices of earnings management phenomenon. To achieve this objective, a questionnaire had been developed and self-administered for a selected sample consists of 123 auditors working in Jordan based on the simple random sampling method. The study first hypothesis is...