The Quality of Analysts ’ Cash Flow Forecasts

By D. Smeal. 2008

146 citations recorded by the source corpus.

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The Effect of Cash Flow Forecasts on Accrual Quality and Benchmark Beating (2011, background): “Givoly et al. (2009) compare the accuracy of analysts’ cash flow and earnings forecasts and find that analysts’ cash flow forecasts are less accurate and of lower quality than earnings forecasts.”
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).”
Are analysts’ earnings forecasts more accurate when accompanied by cash flow forecasts? (2009, background): “…analysts simultaneously issue cash flow and earnings forecasts relative to when they only issue earnings forecasts.7 We test the following hypothesis: 4 In a recent working paper, Givoly et al. (2008) examine the properties of analysts’ cash flow forecasts and raise concerns about this assumption.”
Evidence on the Information Content of Text in Analyst Reports (2014, background): “Overall, the findings of these studies suggest analyst quantitative outputs are informative (Womack 1996; Givoly and Lakonishok 1979; Lys and Sohn 1990; Brav and Lehavy 2003; Asquith et al. 2005; Givoly, Hayn, and Lehavy 2009; Call, Chen, and Tong 2013; Ertimur, Livnat, and Martikainen 2003).”