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Quarterly earnings guidance and real earnings management

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dc.affiliation.dptoUC3M. Departamento de EconomĂ­a de la Empresaes
dc.contributor.authorGarcĂ­a Osma, Beatriz
dc.contributor.authorGuillamon-Saorin, Encarna
dc.contributor.authorMercado, Facundo
dc.contributor.funderComunidad de Madrides
dc.contributor.funderMinisterio de Ciencia, Innovación y Universidades (España)es
dc.date.accessioned2023-09-27T16:01:05Z
dc.date.available2023-09-27T16:01:05Z
dc.date.issued2023-05-01
dc.description.abstractWe examine if quarterly earnings guidance induces real earnings management. Quarterly guidance may cause myopia and inefficient decision-making, if managers become overly concerned with setting and beating short-term earnings targets. We test these associations on a large sample of US firms. Our evidence suggests that quarterly guidance is informative and lowers myopic incentives. However, our analyses also reveal endogenous associations exist between guidance and real earnings management. In contrast with existing concerns over frequent guiders, we find that guidance appears problematic in infrequent guiders, and in firms that issue good news earnings guidance and that operate in settings where earnings pressures are high.en
dc.description.sponsorshipEuropean Social Fund, Grant/Award Number: S2015/HUM-3417; Spanish Ministry of Innovation and Science, Grant/Award Number: ECO2016-77579es
dc.identifier.bibliographicCitationGarcĂ­a Osma, B., GuillamĂłn SaorĂ­n, E., & Mercado, F. (2022). Quarterly earnings guidance and real earnings management. Journal of Business Finance & Accounting, 50 (5-6), pp. 1029-1059.en
dc.identifier.doihttps://doi.org/10.1111/jbfa.12683
dc.identifier.issn0306-686X
dc.identifier.publicationfirstpage1029es
dc.identifier.publicationissue5-6es
dc.identifier.publicationlastpage1059es
dc.identifier.publicationtitleJournal of Business Finance & Accountinges
dc.identifier.publicationvolume50es
dc.identifier.urihttps://hdl.handle.net/10016/38459
dc.identifier.uxxiAR/0000032781
dc.language.isoenges
dc.publisherWileyes
dc.relation.projectIDComunidad de Madrid. S2015/HUM-3417es
dc.relation.projectIDGobierno de España. ECO2016-77579-C3-3-Pes
dc.rights© The author(s)es
dc.rightsAtribución 3.0 España*
dc.rights.accessRightsopen accessen
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/es/*
dc.subject.ecienciaEconomĂ­aes
dc.subject.ecienciaEmpresaes
dc.subject.otherFrequent guidanceen
dc.subject.otherManagement earnings forecastsen
dc.subject.otherReal earnings managementen
dc.subject.otherShort-termismen
dc.titleQuarterly earnings guidance and real earnings managementen
dc.typeresearch article*
dc.type.hasVersionVoR*
dspace.entity.typePublication
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