Refine your search
Collections
Co-Authors
Year
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All
Aghazadeh, Tarlan
- The Effect of Earnings Forecasts Quality on Risk Taking and Firm's Value in Firms Listed in Tehran Stock Exchange
Abstract Views :252 |
PDF Views:3
Authors
Affiliations
1 Department of Accounting, Science and Research Branch, Islamic Azad University, West Azarbyjan, IR
2 Department of Accounting, Urmia, Islamic Azad University, West Azarbyjan, IR
3 Department of Accounting, Urmia Branch, Islamic Azad University, West Azarbyjan, IR
1 Department of Accounting, Science and Research Branch, Islamic Azad University, West Azarbyjan, IR
2 Department of Accounting, Urmia, Islamic Azad University, West Azarbyjan, IR
3 Department of Accounting, Urmia Branch, Islamic Azad University, West Azarbyjan, IR
Source
Journal of Commerce and Accounting Research, Vol 3, No 3 (2014), Pagination: 1-8Abstract
The aim of this study is to investigate the effect of earnings forecasts quality on risk taking and firm's value in firms listed in Tehran Stock Exchange (TSE). To do so, 135 firms listed in TSE are selected to be studied during the period from 2006 to 2012 using regression and correlation tests. Earnings forecasts quality is captured by two proxies of earnings forecast accurateness and earnings forecast frequency. In addition, risk is broken into systematic and unsystematic risks and firm's value is captured through Tobin's Q. The results show that frequency of earnings forecasts has a negative and earnings forecasts has a positive significant effect on unsystematic risk of firms listed in TSE. These results suggest that with increasing earnings forecasts quality, unsystematic risk decreases. In addition, the study fails to find a significant relationship between earnings forecasts quality with systematic risk and firm's value.Keywords
Earnings Forecasts Quality, Risk Tasking, Firm's Value, Tehran Stock Exchange.
References
- Anilowski, C., Feng, M., & Skinner, D. J. (2006). Does earnings guidance affect market returns? The Nature and Information Content of Aggregate Earnings Guidance. ssrn.com.
- Baginski, S. P., Hassell, J. M., & Kimbrough, M. D. (2006). The Effect of Macro Information Environment Change on the Quality of Management Earnings Forecasts. Retrieved from http://ssrn.com/abstract=926361 or http://dx.doi. org/10.2139/ssrn.926361.
- Call, A, C., Chen, S., Miao, B., & Tong, Y. H. (2010). Do firms issuing short-term earnings guidanceexhibit worse earnings quality? Working paper.
- Chen, C. X., Doogar, R., Li, L. Y., & Sougiannis, T., (2008). Disaggregation and the Quality of management earnings Forecasts.Retrieved from http://ssrn. com/abstract=1270844 or http://dx.doi.org/10.2139/ ssrn.1270844.
- Chin, C. l., Kleinman, G., Lee, P., & Lin, M. F., (2006). Corporate Ownership Structure and Accuracy and Bias of Mandatory Earnings Forecast: Evidence from Taiwan. Journal of International Accounting Research, 5(2), Retrieved from http://ssrn.com/abstract=954919.
- Foerster, S. R., Sapp, S., & Shi, Y, (2009). The impact of management earnings forecasts on firm risk and firm value. AAA 2010 Financial Accounting and Reporting Section (FARS) Paper. Retrieved from http://ssrn. com/abstract=1464897 or http://dx.doi.org/10.2139/ ssrn.1464897.
- Givoly, D., Hayn, C., & Lehavy, R. (2009). The quality of analysts' cash flow forecasts.Accounting Review, Forthcoming. Retrieved from http://ssrn.com/ abstract=1423137.
- Goodman, T. H., Neamtiu, M., Shroff, N., & White, H. D., (2013). Management forecast quality and capital investment decisions. The Accounting Review, Forthcoming. Retrieved from http://ssrn.com/abstract=2298803.
- Glaum, M., Baetge, J., Grothe, A., & Oberdoerster, T. (2010). Introduction of international accounting standards, disclosure quality and accuracy of analysts’ earnings forecasts. European Accounting Review, Forthcoming. Retrieved fromhttp://ssrn.com/abstract=1734410.
- Lee, P. J., Taylor, S. J., & Taylor, S. L. (2002). Auditor conservatism and audit quality: Evidence from IPO earnings forecasts. Retrieved from http://ssrn.com/abstract= 297825 or http://dx.doi.org/10.2139/ssrn.297825.
- Li, S., Lev, B., & Sougiannis, T. (2009). The usefulness of accounting estimates for predicting cash flows and earnings. Retrieved from http://ssrn.com/abstract=716641 or http://dx.doi.org/10.2139/ssrn.716641
- Lotfi, A., & Hajipour, M. (2010). The effect of conservatism on management error in earnings forecast.Journal of Management Accounting, 4.
- SabAlipour, F., Gytasi, R., & Rahmati, S. (2012). Investigation of the relationship between corporate governance mechanisms and earnings forecast preciseness. Financial Accounting Researches,1, 123-140.
- Tamjidi, N., Hajiabad, T. B., Aydenlu, M. N., & Hushmandi, K. B. (2013). Evaluating the relationship between earnings forecast error with abnormal returns and systematic risk in Tehran stock exchange. Business Management Dynamics, 3(1), .66-74.
- Yaekura, T., & Sougiannis, T. (2000). The accuracy and bias of equity values inferred from analysts' earnings forecasts. Retrieved from http://ssrn.com/abstract=253033 or http://dx.doi.org/10.2139/ssrn.253033.