The Impact of Management Voluntary Earnings Forecast on the Stock Price Change：Firms Listed on TAIXE

• Main Authors: Chih-Chiang Huang, 黃志強
• Other Authors: Showming Tsao
• Format: Others
• Language: zh-TW
• Published: 2001
• Online Access: http://ndltd.ncl.edu.tw/handle/78385400056601058756

碩士 === 中原大學 === 會計研究所 === 89 === Abstract：Using analyst’s earnings forecast before management voluntary earnings forecast as market earnings expectation, the empirical results suggest during the disclosure period is as following：(1) The earnings variance is positively related to the reactor of earning forecast. (2) From different media of analyst’s earnings forecast reports are positively related to the reactor of earnings forecast. (3) The exactitude of analyst’s earnings forecast is negatively related to the reactor of earnings forecast. (4) The period of far from the first day of the year to the issued date of analyst’s earnings forecast is negatively related to the reactor of earnings forecast. (5) The exactitude of management voluntary earnings forecast is positively related to the reactor of earnings forecast. (6) Solely has voluntary earnings forecast in the year which reactor of earnings forecast is larger with positive relation.