... offer key insights into the explanatory power of earnings. Findings The authors explore a sample of firms with management forecasts, which yields natural intratemporal subperiods – preforecast, forecast and realization periods – to generate hypotheses rooted in fundamental accounting concepts...

... in analysts’ forecasts is negatively related to the management forecast precision. In other words, a precise management forecast is associated with a smaller dispersion in the subsequent analysts’ forecasts. Evidence consistent with accuracy in subsequent analysts’ forecasts being positively associated...

... management earnings forecasts and compares changes in analyst forecast characteristics surrounding the release of a management forecast of earnings from the same firms which sometimes include other information with their forecasts and sometimes do not. Findings Analysts make larger forecast revisions...