Factors associated with the disclosure of managers' forecasts

Article Abstract:

The public disclosure of earnings forecasts by management is voluntary, but is currently provided by only a minority of companies, leading to the desire among investors and regulatory agencies to understand why some companies publicly report and others do not. Research into the motivation of managers to publicly disclose future earnings forecasts reveals that the disclosing firm's ownership structure, errors in financial analysts' forecasts, and the imminence of new capital offerings are significant factors affecting management's decision to disclose information. Research indicates that forecasts are generally confirmatory of analysts' forecasts, and that new capital offerings are likely to be issued subsequent to the forecast date.

Analysis, Finance, Corporate finance, Forecasting, Disclosure statements (Accounting)

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The merger-bankruptcy alternative

Article Abstract:

Although some believe accounting data can indicate when a firm is about to go bankrupt, firms with identical accounting results could bankrupt, merge with other firms or acquire other firms. Several firms that opted for one of these alternatives are analyzed, and it is shown that companies in distress are merged with other firms when the owners of the company have their way, and are bankrupted when the managers make the decision. The analysis also indicates that distressed firms merging into other companies usually lose some of their financial leverage following the merger.

Acquisitions and mergers, Bankruptcy, Business failures

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Accounting changes: successful versus unsuccessful firms

Article Abstract:

Research was conducted to discover any possible correlation between successful companies, unsuccessful companies, and their accounting practices. Descriptive and statistical analyses of the accounting changes were conducted. Unsuccessful firms were found to make more accounting changes that increased income.

Accounting and auditing, Business success, Income accounting

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