Are analysts’ earnings forecasts more accurate when accompanied by cash flow forecasts?

By Andrew C. Call, Shuping Chen, Y. H. Tong. 2009

166 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/7bc4e4ab33b1093d7f34cbe336df7755f9cb02fa

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Benjamin C. Whipple
2. Boris Groysberg
3. Theodore E. Christensen
4. David A. Maber
5. Kurt H. Gee
6. John M. McInnis
7. Daniel W. Collins
8. Paul M. Healy

In Finance

1. Boris Groysberg
2. Benjamin C. Whipple
3. Kurt H. Gee
4. David A. Maber
5. John M. McInnis
6. Daniel W. Collins
7. Paul M. Healy
8. Mark Bradshaw

In Strategy and Management

1. Theodore E. Christensen
2. David A. Maber
3. Kurt H. Gee
4. John M. McInnis
5. Benjamin C. Whipple
6. Boris Groysberg
7. Daniel W. Collins
8. Mark Bradshaw

Citations in the corpus

• Analysts’ GAAP earnings forecasts and their implications for accounting research (2018, background): “Analysts have increased the availability of disaggregated forecasts since the early 2000s, including forecasts of revenues, operating profits, taxes and cash flows (Ertimur et al., 2003; Call et al., 2009; Givoly et al., 2009; Ertimur et al., 2011; Kim et al., 2015).”
• Analyst following along the supply chain (2011, unknown): “Moreover, accurate analysts are less likely to experience turnover (Call et al. 2009; Mikhail et al. 1999) and more likely to move up to a more prestigious brokerage firm (Hong and Kubik 2003).”
• Inside the 'Black Box' of Sell-Side Financial Analysts (2014, unknown): “These findings shed light on research that suggests earnings forecasts are important to analysts’ career success (Call et al., 2009; Hong and Kubik, 2003; Mikhail et al., 1999).”
• What Drives Sell-Side Analyst Compensation at High-Status Investment Banks? (2011, background): “(2008), Call et al. (2009), and Pandit et al. (2009)), this finding is important, as it suggests that researchers are looking in the right place, but should be careful when generalizing their inferences to discussions of analyst bonuses, as some have done. Our findings suggest several questions for ”
• Inside the 'Black Box' of Sell-Side Financial Analysts (2015, unknown): “These findings shed light on research that suggests earnings forecasts are important to analysts’ career success (Call et al., 2009; Hong and Kubik, 2003; Mikhail et al., 1999).”
• The Effect of Cash Flow Forecasts on Accrual Quality and Benchmark Beating (2011, background): “…cash flow forecasts are less accurate and of lower quality than earnings forecasts.1 However, they do not directly test whether the provision of cash flow forecasts improves analysts’ ability to forecast earnings (this question is addressed in the Call et al. (2009) paper discussed below).”