摘要
以2006—2009年为研究窗口,选取在沪、深交易所上市的公司(仅限于发布业绩预告的上市公司)作为样本进行实证研究。结果表明:管理者在自愿披露盈利预测时并非仅仅因为好消息或坏消息来决定披露意愿,还要考虑市场是否合理反映了先前披露的信息;管理者首次披露盈利预测习性越早,其披露盈利预测意愿越强。
With the period 2006--2009 as the study point, this paper selects the listed companies that are in the Shanghai and Shenzhen stock exchanges （limited to the listed companies .which have issued performance notice） as a sample of empirical research. The results show that managers in the voluntary disclosure of earnings forecasts focus on not just the good news or bad news to determine the wishes of the disclosure, whether the market makes a reasonable response to previously disclosed information is also a consideration. Besides, the earlier the managers for the first time make disclosure of profit forecasts, the stronger the disclosure of profit forecasts will be.
出处
《沈阳建筑大学学报（社会科学版）》
2011年第3期345-348,共4页
Journal of Shenyang Jianzhu University:Social Science
关键词
市场反应
盈利预测
自愿披露
market reaction
profit forecast
voluntary disclosure
