The Effects of Pro Forma Earnings Disclosures on Analysts' and Nonprofessional Investors' Equity Valuation Judgments

By James R. Frederickson, J. Miller. 2004

336 citations recorded by the source corpus.

Subfields: Accounting, Finance, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/627e45bbc03956b4ca2e6646cbbc9f5707b21aa7

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Citations in the corpus

Non-GAAP earnings and board independence (2011, background): “Hirshleifer and Teoh (2003) demonstrate analytically that nonGAAP earnings can influence investors with limited attention; consistent with this, both Frederickson and Miller (2004) and Elliott (2006) find in experimental settings that non-GAAP earnings influence nonprofessional investors and induce…”
The Effect of Gender Diversity on Angel Group Investment (2011, background): “See Lichtenstein and Fischhoff (1981); Smith and Kida (1991); Frederickson and Miller (2004); Locke and Mann (2005); Kass, Ahlers, and Dugger (1998); Minter, Gruppen, Napolitano, and Gauger (2005); and Lundeberg, Fox, and Punćochar (1994) for evidence that training and environment can attenuate…”
Does Search-facilitating Technology Improve the Transparency of Financial Reporting? (2004, background): “In contrast, nonprofessional investors use less-defined valuation models and assimilate financial information in a relatively unstructured manner (SRI International 1987; Frederickson and Miller 2004).”
The Impact of Expertise and Investment Familiarity on Investors' Use of Online Financial Report Information (2006, background): “Based on these differences, Gassen (2001) argues and provides evidence that business students navigating an HTML-formatted annual report retrieve business information faster and more accurately, and are more satisfied with the way information is presented than users reading a PDF-formatted report.”
Discretionary Disclosure Strategies in Corporate Narratives: Incremental Information or Impression Management? (2008, neutral): “…the two schools, thereby providing valuable insights into the impression management/incremental information debate [Lang and Lundholm, 2000]10; [Frederickson and Miller, 2004]; [Barton and Mercer, 2005]; [Bowen et al., 2005]; [Johnson and Schwartz, 2005], [Krische, 2005]; [Elliott, 2006];…”
Who Uses Financial Reports and for What Purpose? Evidence from Capital Providers (2014, neutral): “In addition, they are more easily misled by pro-forma earnings disclosures and often use overly simplistic valuation models (Frederickson and Miller, 2004; Elliott, 2006).”
Fifty-Year Overview of Judgment and Decision-Making Research in Accounting (2011, neutral): “2011 The Authors Accounting and Finance 2011 AFAANZ Frederickson and Miller (2004) found significant differences in the use of pro forma earnings by non-professional investors and analysts.”
The Disclosure of Non-GAAP Earnings Information in the Presence of Transitory Gains (2014, neutral): “In addition, there is evidence that investors—especially unsophisticated investors—are subject to processing costs (e.g., Frederickson and Miller 2004; Elliott 2006; Allee et al. 2007).”
Are M.B.A. Students a Good Proxy for Nonprofessional Investors (2007, neutral): “( continued on next page ) Elliott, Hodge, Kennedy, and Pronk The Accounting Review, January 2007 TABLE 1 (Continued) Frederickson and Miller (2004) In an experiment, participants made stock price judgments based on an earnings release that reported only GAAP earnings or that reported both GAAP and…”
Impression Management and Retrospective Sense-Making in Corporate Narratives: A Social Psychology Perspective (2011, background): “This prevent them from assessing reporting bias arising from the manipulation of the presentation and disclosure of information in corporate narrative documents (for example, Baird and Zelin 2000; Courtis 2004b; Elliott 2006; Frederickson and Miller 2004; Krische 2005).”