IMPACT OF ERROR OF PRIOR-PERIOD EARNINGS FORECAST ON MARKET REACTION TO MANAGEMENT EARNINGS FORECAST, AND DIFFERENT TYPES OF EARNINGS MANAGEMENT

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KHODAMI POUR AHMAD; HOSEININASAB HOJJAT; HAYATI HOSSEIN

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Journal: JOURNAL OF ACCOUNTING KNOWLEDGE Year:2015 | Volume:6 | Issue:21 Page(s): 83-108

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Title

IMPACT OF ERROR OF PRIOR-PERIOD EARNINGS FORECAST ON MARKET REACTION TO MANAGEMENT EARNINGS FORECAST, AND DIFFERENT TYPES OF EARNINGS MANAGEMENT

Author(s)

KHODAMI POUR AHMAD | HOSEININASAB HOJJAT | HAYATI HOSSEIN | Issue Writer Certificate

Keywords

MANAGEMENT EARNINGS FORECASTQ1

MARKET REACTIONQ1

EARNINGS MANAGEMENTQ2

EARNINGS FORECAST NEWS CONTENTQ2

Abstract

The objective of this research is to investigate the reaction of market to the companies’ bad or good news, according to their earnings forecast in the last year, the managers’ inclination to keep or improve their fame in forecasting, and comparing managers'' inclination towards upward EARNINGS MANAGEMENT with different types of EARNINGS MANAGEMENT and with respect to their last year forecast. To achieve this, the financial statements of 86 companies listed in the Tehran Stock Exchange between the years 1384-1390 were analyzed. To reach the research objective, the companies were categorized according to their last and current year forecasts, and their forecast contents.Then, considering the combined structure of the data, and using the statistical tests as T test, correlative coefficient of Pierson, and OLS, the hypotheses of the research were tested. The results showed that the MARKET REACTION to the earnings forecast with good (bad) news, when the last period forecast was optimistic (pessimistic), is more positive (more negative) than when the last period forecastis pessimistic (optimistic). Also, the results showed managers tend to be stable in earnings forecast. Additionally, the results showed the last period optimistic forecast could be considered the factor leading to upward EARNINGS MANAGEMENT in the current period.

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APA: Copy

KHODAMI POUR, AHMAD, HOSEININASAB, HOJJAT, & HAYATI, HOSSEIN. (2015). IMPACT OF ERROR OF PRIOR-PERIOD EARNINGS FORECAST ON MARKET REACTION TO MANAGEMENT EARNINGS FORECAST, AND DIFFERENT TYPES OF EARNINGS MANAGEMENT. JOURNAL OF ACCOUNTING KNOWLEDGE, 6(21), 83-108. SID. https://sid.ir/paper/163319/en

Vancouver: Copy

KHODAMI POUR AHMAD, HOSEININASAB HOJJAT, HAYATI HOSSEIN. IMPACT OF ERROR OF PRIOR-PERIOD EARNINGS FORECAST ON MARKET REACTION TO MANAGEMENT EARNINGS FORECAST, AND DIFFERENT TYPES OF EARNINGS MANAGEMENT. JOURNAL OF ACCOUNTING KNOWLEDGE[Internet]. 2015;6(21):83-108. Available from: https://sid.ir/paper/163319/en

IEEE: Copy

AHMAD KHODAMI POUR, HOJJAT HOSEININASAB, and HOSSEIN HAYATI, “IMPACT OF ERROR OF PRIOR-PERIOD EARNINGS FORECAST ON MARKET REACTION TO MANAGEMENT EARNINGS FORECAST, AND DIFFERENT TYPES OF EARNINGS MANAGEMENT,” JOURNAL OF ACCOUNTING KNOWLEDGE, vol. 6, no. 21, pp. 83–108, 2015, [Online]. Available: https://sid.ir/paper/163319/en

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