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K. Hassett (2000)
Outlaw Selective Disclosure? No, the More Information the BetterThe Wall Street Journal, 236
A. Irani, I. Karamanou (2003)
Regulation Fair Disclosure, Analyst Following and Analyst Forecast DispersionAccounting Horizons, 17
R. Bowen, A. Davis, D. Matsumoto (2002)
Do Conference Calls Affect Analysts' Forecasts?The Accounting Review, 77
R. Shiller (2000)
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F. Heflin, K. Subramanyam, Y. Zhang (2003)
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This study examines the effect of Regulation Fair Disclosure (FD) on the relevance of company-sponsored conference calls. Measuring relevance by a conference call's ability to improve analyst forecast accuracy and consensus, I find larger improvements in both variables during the period surrounding conference calls in the post-FD era versus the pre-FD era. These findings imply that in the post-FD era relatively more about a firm's upcoming earnings becomes known during conference calls, consistent with FD's success in eliminating selective disclosure.
Review of Quantitative Finance and Accounting – Springer Journals
Published: Oct 2, 2004
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