The Predictive Value of Expenses Excluded from Pro Forma Earnings

By Jeffrey T. Doyle, Russell J. Lundholm, Mark T. Soliman. 2002

451 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/f0ec33445c7fb1162509d7e19137d268fd624d22

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. Ana Marques
2. Mark T. Soliman
3. Yan Sun
4. Jared N. Jennings
5. Richard M. Frankel
6. William J. Mayew
7. Jeffrey T. Doyle
8. Joshua A. Lee

In Finance

1. Ana Marques
2. Mark T. Soliman
3. Yan Sun
4. Jared N. Jennings
5. Richard M. Frankel
6. William J. Mayew
7. Jeffrey T. Doyle
8. Joshua A. Lee

In Strategy and Management

1. Ana Marques
2. Mark T. Soliman
3. Jared N. Jennings
4. Richard M. Frankel
5. William J. Mayew
6. Jeffrey T. Doyle
7. Benjamin C. Whipple
8. Theodore E. Christensen

Citations in the corpus

• Do Managers Define Non-GAAP Earnings to Meet or Beat Analyst Forecasts? (2013, result): “The second assumption is consistent with the findings in Gu and Chen (2004) and Doyle et al. (2003) who both find that exclusions allowed by analysts have predictive power and valuation effects, behaving as if they were recurring in nature.”
• Do pennies matter? Investor relations consequences of small negative earnings surprises (2010, background): “7 Durtschi and Easton (2005) challenge the notion that kinks in earnings distributions in and of themselves are evidence of managers achieving earnings targets.”
• SEC interventions and the frequency and usefulness of non-GAAP financial measures (2006, background): “This is consistent with the results in Doyle et al. (2003). However, the means of the firms’ adjustments are either zero (regimes 1 and 2) or negative (regime 3).”
• Earnings Management Using Classification Shifting: an Examination of Core Earnings and Special Items (2006, unknown): “6 The evidence in this paper supports prior research on pro forma earnings that suggests managers exclude recurring expenses (Doyle et al. 2003).”
• Sec Scrutiny and the Evolution of Non-Gaap Reporting (2008, unknown): “Following Doyle et al. (2003) and Gu and Chen (2004), we define high-quality exclusions to be those that have the least predictive power for future earnings and estimate the following pooled regression: 170 K olev, M arquardt, and M cVay T he A ccounting R eview , January 2008 SEC Scrutiny and the E”