An Empirical Analysis of Analysts' Cash Flow Forecasts

By Mark L. Defond, Mingyi Hung. 2003

458 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/d8c7ecd17dde31d3f526addc0452a43d695431b3

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In Accounting

1. Daniel W. Collins
2. Y. H. Tong
3. Jacob K. Thomas
4. Andrew C. Call
5. Jing Liu
6. Doron Nissim
7. Christopher D. Ittner
8. Dan Givoly

In Finance

1. Daniel W. Collins
2. Y. H. Tong
3. Jacob K. Thomas
4. Andrew C. Call
5. Jing Liu
6. Doron Nissim
7. Carla K. Hayn
8. Dan Givoly

In Strategy and Management

1. Jacob K. Thomas
2. Jing Liu
3. Doron Nissim
4. Dan Givoly
5. Carla K. Hayn
6. C. Clubb
7. L. Lee
8. John M. McInnis

Citations in the corpus

• Why Do EPS Forecast Error and Dispersion Not Vary with Scale? Implications for Analyst and Managerial Behavior (2011, unknown): “…with 9 There is reason to believe that firms with sales and cash flow forecasts differ systematically from firms without these forecasts (e.g., Defond and Hung, 2003). scale for EPS variability and disagreement, and consists of 485, 1,556, 9,170, and 967 firm-years from Brazil, Switzerland,…”
• Measuring Reporting Conservatism (2007, background): “Indeed, some attempts have been made to quantify the attributes of materiality (Cho, Hagerman, Nabar and Patterson (2003), Pany and Wheeler (1989)), reliability (Barth and Clinch (1998), Entwistle and Phillips (2003)), and comparability or heterogeneity (Defond and Hung (2003)).”
• The Use of Valuation Models by UK Investment Analysts (2008, background): “So, for example, market participants have a relatively greater demand for cash flow information when cash flows complement the information contained in earnings (e.g. DeFond and Hung, 2003).”
• Are analysts’ earnings forecasts more accurate when accompanied by cash flow forecasts? (2009, methodology): “Using long-window returns, both DeFond and Hung (2003) and Call (2008) examine whether investors respond differently to the cash flow and accrual components of earnings when setting stock prices for firms with cash flow forecasts.”
• Incentives to Inflate Reported Cash from Operations Using Classification and Timing (2012, background): “18 DeFond and Hung (2003) and McInnis and Collins (2007) indicate that analysts’ cash flow forecasts do not merely represent crude adjustments of earnings, such as EBITDA.”
• The Financial Analyst Forecasting Literature: A Taxonomy with Suggestions for Further Research (2008, unknown): “DeFond and Hung (2003) Archival, I/B/E/S, 1993-1999.”
• Is Cash Flow King in Valuations? (2007, background): “…flow forecasts are more likely to be provided in sectors where earnings forecasts are less informative and cash flow forecasts are more informative relative to other sectors (see, for example, the evidence in DeFond and Hung 2003 regarding U.S. companies providing operating cash flow forecasts).”