solo-authored

I investigate whether analysts’ tone during conference calls is associated with indicators of reporting quality, particularly with regard to misrepresented information and earnings management. My study clarifies that the general lack of findings related to analysts and reporting quality in the prior literature does not necessarily imply that analysts are unaware of the issues. Instead, my study helps to clarify that analysts do express concerns related to reporting quality, just in in a more nuanced manner than previously appreciated.

with Miaodi Han, Andrew Jackson, and Brian Rountree

We examine how the degree of idiosyncratic information in a firm’s earnings affects analysts' forecasting behavior. We find that increases in idiosyncratic earnings are associated with decreases in accuracy and dispersion. Moreover, we find that analysts review Form 4 filings more frequently when firms have higher idiosyncratic earnings components and lack management guidance. However, with management guidance, analysts review Form 4 filings less frequently in the presence of high idiosyncratic earnings. The results reveal a complex relationship between analysts' information-seeking efforts and firms’ idiosyncratic earnings.