the hargreaves-samani (hs) equation, which estimates reference evapotranspiration (et0) using only temperature as input, should be most suitable for et0 prediction based on weather forecasting data. in the current study, the hs equation is calibrated with daily et0 by the penman-monteith equation, and is evaluated to check the possibility of predicting daily et0 based on weather forecast data. ...

This study shows that analysts vary significantly in their responsiveness to earnings announcements, where responsiveness is defined as promptness of analysts’ first forecast revisions for the next quarter since the prior quarterly earnings announcements. Further evidence indicates that analysts’ responsiveness improves the efficiency of their expectations of future earnings immediately after t...

Both prior research and the popular financial press suggest that earnings smoothing is associated with higher valuations, per dollar of reported earnings. Apparently, smoothing causes reported earnings to be a less noisy measure of “permanent” earnings that can be sustained over the longterm. We extend those results to examine whether earnings smoothing is associated with higher valuations per ...

Single-segment (focused) firms have a natural disadvantage compared to multi-segment (diversified) with respect to voluntary disclosure policy. Since aggregate disclosures by focused firms are at a finer level of detail than those of diversified firms, the latter have greater ability to react to focused firm information and therefore have a competitive advantage. I provide evidence that focused...

This paper examines the relation between smooth past earnings performance and the credibility of voluntary management earnings forecasts. Specifically, using strings of increasing earnings per share as our measure of past performance, we demonstrate that both analyst forecast revisions and stock price reactions around management earnings forecasts are more pronounced when the firm has posted a ...

Accurate projections of lifetime earnings are useful in projecting Social Security benefits, trust fund balances, and economic resources of the elderly and the effects of changes in Social Security policy. This article 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 ear...

Earnings non-synchronicity captures the extent to which firm-specific factors determine a firm’s earnings, and has important implications to a firm’s information environment. Prior research shows that high earnings non-synchronicity impedes corporate outsiders’ information processing. Given managers generally possess superior information about their firms’ unique operating and reporting strateg...