Does Earnings Guidance Affect Market Returns? The Nature and Information Content of Aggregate Earnings Guidance

By C. Anilowski, Mei Feng, Douglas J. Skinner. 2007

493 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/3460ff4d3ac79433fdea565b2110efdc0312bae6

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Citations in the corpus

Measuring Securities Litigation Risk (2012, methodology): “FD was implemented, there has been a strong increase in the tendency for firms to release earnings guidance at the time they announce quarterly earnings (e.g., Anilowski et al., 2007; Rogers and Van Buskirk, 2009b).”
Private Earnings Guidance and its Implications for Disclosure Regulation (2007, methodology): “…in the economic environment that are unrelated to Reg FD (e.g., decimalization of the major stock exchanges [Bailey et al. 2003] and the upward secular trend in the frequency of earnings-related public disclosures [Anilowski et al. 2007]), I also use pre-FD public disclosers as a benchmark group.”
To Guide Or Not to Guide? Causes and Consequences of Stopping Quarterly Earnings Guidance (2008, unknown): “Since the CIG database is incomplete (Anilowski et al. 2007), we search the Factiva news database to make sure that the initially identified stoppers indeed have stopped quarterly guidance.”
The debt market relevance of management earnings forecasts: evidence from before and during the credit crisis (2011, unknown): “11 In the case of range estimates, we follow Anilowski et al. (2007) and compute management earnings”
Management Earnings Forecasts: A Review and Framework (2008, unknown): “Arguably, because of these changes in institutional investment and in analyst coverage, the number of firms providing public earnings guidance also increased from approximately 10 to 15 percent in the mid-1990s to approximately 50 percent in 2004 ͑Anilowski et al. 2007͒.”
The Association Between Management Earnings Forecast Errors and Accruals (2009, background): “13 The increasing trend in the number of forecasting firms may also reflect more comprehensive coverage by First Call since 1998 (Anilowski et al. 2007).”
Bundled Forecasts in Empirical Accounting Research (2013, unknown): “In recognition of this problem, researchers frequently exclude forecasts made in conjunction with other news items (e.g., Foster 1973; Ajinkya and Gift 1984; Skinner 1994; Yeo and Ziebart 1995; Coller and Yohn 1997; Hutton et al. 2003; Anilowski et al. 2007; Hilary and Hsu 2011), or ensure that thei”
Capital Market Consequences of Managers’ Voluntary Disclosure Styles (2012, background): “conjunction with earnings announcements has increased over the recent years (Anilowski et al. 2007; Rogers and Van Buskirk 2009).”
On Guidance and Volatility (2015, unknown): “Refer to the appendix of Anilowski et al. (2007) for a discussion of the evolution of First Call as a provider of earnings forecast data and to Chuk et al.”