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How persuasive is qualitative manage...

Hart, Matthew.

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How persuasive is qualitative management guidance compared to quantitative guidance?

Record Type:	Language materials, printed : Monograph/item
Title/Author:	How persuasive is qualitative management guidance compared to quantitative guidance?/
Author:	Hart, Matthew.
Description:	65 p.
Notes:	Source: Dissertation Abstracts International, Volume: 71-05, Section: A, page: 1702.
Contained By:	Dissertation Abstracts International71-05A.
Subject:	Business Administration, Accounting. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3407111
ISBN:	9781109743302

How persuasive is qualitative management guidance compared to quantitative guidance?
Hart, Matthew.

How persuasive is qualitative management guidance compared to quantitative guidance? - 65 p.

Source: Dissertation Abstracts International, Volume: 71-05, Section: A, page: 1702.

Thesis (Ph.D.)--Arizona State University, 2010.

Management earnings guidance is one of the primary sources of earnings expectations for market participants. Broadly speaking, managers disclose their guidance either quantitatively or qualitatively. Comparing these guidance forms by type of news, I find that qualitative bad news forecasts are more persuasive to investors (i.e., have a stronger market reaction) and analysts (i.e., have larger earnings revisions) than quantitative bad news forecasts. With respect to good news earnings forecasts, I find no effect of guidance form. By way of an explanation, I find that qualitative bad news forecasts are more accurate ex post than quantitative bad news forecasts. Empirical results indicate that investors view qualitative bad news forecasts as a signal that the forthcoming earnings surprise may be more negative than anticipated. This result contrasts with prior studies which generally find that more precise earnings guidance is more persuasive.

ISBN: 9781109743302Subjects--Topical Terms:

1020666
Business Administration, Accounting.

How persuasive is qualitative management guidance compared to quantitative guidance?
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100 1 $a Hart, Matthew. $3 731561
245 1 0 $a How persuasive is qualitative management guidance compared to quantitative guidance?
300 $a 65 p.
500 $a Source: Dissertation Abstracts International, Volume: 71-05, Section: A, page: 1702.
500 $a Adviser: Michael Mikhail.
502 $a Thesis (Ph.D.)--Arizona State University, 2010.
520 $a Management earnings guidance is one of the primary sources of earnings expectations for market participants. Broadly speaking, managers disclose their guidance either quantitatively or qualitatively. Comparing these guidance forms by type of news, I find that qualitative bad news forecasts are more persuasive to investors (i.e., have a stronger market reaction) and analysts (i.e., have larger earnings revisions) than quantitative bad news forecasts. With respect to good news earnings forecasts, I find no effect of guidance form. By way of an explanation, I find that qualitative bad news forecasts are more accurate ex post than quantitative bad news forecasts. Empirical results indicate that investors view qualitative bad news forecasts as a signal that the forthcoming earnings surprise may be more negative than anticipated. This result contrasts with prior studies which generally find that more precise earnings guidance is more persuasive.
590 $a School code: 0010.
650 4 $a Business Administration, Accounting. $3 1020666
690 $a 0272
710 2 $a Arizona State University. $3 1017445
773 0 $t Dissertation Abstracts International $g 71-05A.
790 1 0 $a Mikhail, Michael, $e advisor
790 $a 0010
791 $a Ph.D.
792 $a 2010
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3407111