Are Investors Influenced by Pro Forma Emphasis and Reconciliations in Earnings Announcements

By W. B. Elliott. 2006

332 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d05a41897e8d95daffeea2cf17d7384ee08aa1d7

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Citations in the corpus

Disclosure Readability and the Sensitivity of Investors' Valuation Judgments to Outside Information (2017, neutral): “evaluation, and weighting of information contained within that disclosure (see e.g., Maines and McDaniel 2000; Hodge, Kennedy, and Maines 2004; Elliott 2006; Elliott, Hodge, Kennedy, and Pronk 2007).”
Sec Scrutiny and the Evolution of Non-Gaap Reporting (2008, neutral): “Other possibilities include examining changes in manager emphasis and presentation of non-GAAP numbers in press releases, as in Bowen et al. (2005), or dealing with the issue experimentally, as in Elliott (2006) or Frederickson and Miller (2004).”
Fifty-Year Overview of Judgment and Decision-Making Research in Accounting (2011, neutral): “Elliott (2006) extended Frederickson and Miller (2004) by examining whether emphasis of pro forma earnings and presence of a reconciliation between pro forma and GAAP earnings influenced analysts’ reliance on pro forma disclosures in investment decisions. By far, the largest group of studies focused”
Are Investors Influenced By How Earnings Press Releases Are Written? (2008, neutral): “…those results by demonstrating that benchmarks allowing favorable comparisons influence investors, where Henry / INVESTORS AND EARNINGS PRESS RELEASES 377 investor reaction is measured based on differences in subjects’ estimates of a company’s future earnings (Elliott, 2006; Krische, 2005).”
Are M.B.A. Students a Good Proxy for Nonprofessional Investors (2007, neutral): “Low Elliott (2006) In an experiment, participants made earnings potential judgments and an investment decision based on an earnings release that reported only GAAP earnings, emphasized either GAAP or pro forma earnings or provided a reconciliation of GAAP and pro forma earnings.”
Who Trades on Pro Forma Earnings Information (2004, methodology): “2 Prior research provides a more detailed discussion of this debate (e.g., Bhattacharya et al., 2003; Lougee and Marquardt, 2004; and Elliott, 2006, among others).”
Discretionary Disclosure Strategies in Corporate Narratives: Incremental Information or Impression Management? (2008, positive): “…Only eight studies (all US) have effectively distinguished between these two competing schools [Lang and Lundholm, 2000]; [Frederickson and Miller, 2004]; [Barton and Mercer, 2005]; [Bowen et al., 2005]; [Johnson and Schwartz, 2005]; [Krische, 2005]; [Elliott, 2006]; [Matsumoto et al., 2006].”
Non-GAAP earnings and board independence (2011, background): “…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 them to assess a higher stock…”
Who Uses Financial Reports and for What Purpose? Evidence from Capital Providers (2014, neutral): “and Weber, J. (2002) The importance of accounting changes in debt contracts: the cost of flexi-”
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).”
Female CEOs and Core Earnings Quality: New Evidence on the Ethics Versus Risk-Aversion Puzzle (2018, neutral): “Arguably, managers are motivated to inflate their core earnings rather than the bottom-line net income because most investors currently base their investment decisions on this number (Bhattacharya et al. 2007; Bradshaw and Sloan 2002; Elliott 2006).”