Publications

Educators

Article

Earnings and Ratings at Google Answers

By: Benjamin Edelman

I analyze all questions and answers from the inception of the Google Answers service through November 2003, and I find notable trends in answerer behavior: more experienced answerers provide answers with the characteristics askers most value, receiving higher ratings... View Details

Keywords: Service Delivery; Opportunities; Behavior; Value; Jobs and Positions; Wages; Business Earnings

July – August 2008
Article

Buy-Side vs. Sell-Side Analysts' Earnings Forecasts

By: Boris Groysberg, Paul M. Healy and Craig James Chapman

We compare the earnings forecast performance of analysts at a large buy-side firm to that of sell-side analysts. Our tests show that the buy-side firm analysts make more optimistic and less accurate forecasts than their counterparts on the sell-side. These performance... View Details

Keywords: Motivation and Incentives; Business Earnings; Forecasting and Prediction; Performance Effectiveness

Article

Dividend Decisions and Earnings

By: Paul M. Healy and Franco Modigliani

Keywords: Stocks; Finance

September 1998
Article

Detecting Lower Earnings Quality

By: David F. Hawkins

Keywords: Quality; Business Earnings

19 Jun 2014
News

How to Kill Quarterly Earnings Guidance

28 Jun 2021
News

Earning Your Team’s Trust

July 2007
Article

Earnings Announcement Premia and Limits to Arbitrage

By: Daniel Cohen, Aiyesha Dey, Thomas Lys and Shyam Sunder

We examine the factors underlying the presence of earnings announcement premia. We find that the premia persist beyond the sample period examined in prior studies (ending in 1988), although they decline in magnitude after 1988. Further, premia are lower on the expected... View Details

Keywords: Business Earnings; Announcements; Corporate Disclosure

August 2000 (Revised July 2002)
Background Note

Fundamental Enterprise Valuation: Earnings

By: Carliss Y. Baldwin

A technical note that defines earnings. View Details

Keywords: Valuation; Business Ventures; Profit

Educators

16 Sep 2013
Research & Ideas

Earnings Calls That Get Lost in Translation

The CEO's key to a successful earnings call with investors? Crystal clear communication. Earnings calls are typically held after the release of quarterly earnings, allowing company executives a chance to... View Details

Keywords: by Dina Gerdeman

October 2002 (Revised March 2004)
Case

Management Earnings Disclosure and Pro Forma Reporting

Introduces a discussion of management earnings disclosure and the growing use of pro forma reporting by corporations. Highlights the background of pro forma reporting, how it has been used in the past couple of years, and what the regulators at the capital markets... View Details

Keywords: Business Earnings; Corporate Disclosure; Financial Reporting; Management Teams

Educators

2008
Working Paper

An Investigation of Earnings Management through Marketing Actions

By: Craig James Chapman and Thomas J. Steenburgh

Prior research hypothesizes managers use "real actions," including the reduction of discretionary expenditures, to manage earnings to meet or beat key benchmarks. This paper examines this hypothesis by testing how different types of marketing expenditures are used... View Details

Keywords: Performance Expectations; Earnings Management; Marketing Strategy; Financial Reporting; Brands and Branding; Food and Beverage Industry

SSRN

February 1999
Article

1998 10-K's: Earnings Quality Alert

By: David F. Hawkins

Keywords: Business Earnings; Quality; Reports

May 06 2021
Tout

Earn a Certificate of Management Excellence

16 Sep 2013
News

Earnings Calls That Get Lost in Translation

Keywords: Securities, Commodities, and Other Financial Investments; Finance

February 2011
Teaching Note

Google and Earnings Guidance (TN)

By: Francois Brochet

Teaching Note for 111026. View Details

Keywords: Communication Strategy; Policy; Web Services Industry; Information Technology Industry; United States

Article

Forgoing Earned Incentives to Signal Pure Motives

By: Erika L. Kirgios, Edward H. Chang, Emma E. Levine, Katherine L. Milkman and Judd B. Kessler

Policy makers, employers, and insurers often provide financial incentives to encourage citizens, employees, and customers to take actions that are good for them or for society (e.g., energy conservation, healthy living, safe driving). Although financial incentives are... View Details

Keywords: Incentives; Motivation Laundering; Self-signaling; Motivation and Incentives; Behavior; Perception

March 2011
Article

What Do Dividends Tell Us About Earnings Quality

By: Douglas Skinner and Eugene F. Soltes

Over the past 30 years, there have been significant changes in the distribution of earnings (cross-sectional variation has increased, with increasing left skewness) as well as in corporate payout policy, with many fewer firms paying dividends and the emergence of stock... View Details

Keywords: Distribution; Business Earnings; Change; Policy; Stocks; Investment Return; Performance Consistency; Quality