...” (marked by S&P Global CapitalIQ, event types include earnings, dividends, mergers and acquisitions, buybacks, public offerings, management changes, debt defaults, dividend cancellations, and regulatory agency inquiries, sourced from regulatory filings and news vendors), and b) earnings announcements...

...) versus Two Stage Least Squares (2SLS). The test of Objectivity versus Non-Objectivity Models provides the index of objectivity, which equals the p-value of the Wald Test of zero coefficients versus non-zero coefficients in 2SLS regression of the earnings forecast residual. The exponent...