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Afshad Irani, Irene Karamanou (2003)
Regulation Fair Disclosure, Analyst Following and Analyst Forecast DispersionAccounting Horizons, 17
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Who is afraid of Reg FD? The behaviour and performance of sell-side analysts following the SEC’s fair disclosure rulesJournal of Business, 79
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Regulation Fair disclosure and earnings information: market, analyst, and corporate responsesJournal of Finance, 58
Mark Lang, Karl Lins, Darius Miller (2002)
Adrs, Analysts, and Accuracy: Does Cross Listing in the U.S. Improve a Firm's Information Environment and Increase Market Value?Financial Accounting
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Continuous disclosure: the Australian experience
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Failure to disclose points to penalties
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Are Australian corporate disclosures of earnings changes ‘continuous’ or opportunistic?, Working Paper, University of New South Wales
Afshad Irani (2003)
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Mark Lang, Russell Lundholm (1993)
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What drives sell - side analyst compensation at high - status banks ?
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How Has Regulation FD Affected the Operations of Financial AnalystsContemporary Accounting Research, 23
W. Bailey, Haitao Li, Connie Mao, Rui Zhong (2003)
Regulation Fair Disclosure and Earnings Information: Market, Analyst, and Corporate ResponsesFox School of Business
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Management earnings forecasts in a low litigation environment: Determinants, specificity and supporting disclosures
Francis Lees (1981)
Public disclosure of corporate earnings forecasts
Lang Lang, Lins Lins, Miller Miller (2003)
ADRs, analysts, and accuracy: does cross listing in the U.S. improve a firm’s information environment and increase market value?Journal of Accounting Research, 41
Orie Barron, Pamela Stuerke (1998)
Dispersion in Analysts' Earnings Forecasts as a Measure of UncertaintyJournal of Accounting, Auditing & Finance, 13
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VOLUNTARY FORECAST DISCLOSURE, NONDISCLOSURE, AND STOCK-PRICESJournal of Accounting Research, 28
(2002)
Are Australian corporate disclosures of earnings changes 'continuous' or opportunistic?
(2001)
Please explain’: ASX share price queries and the Australian continuous disclosure regime, Research Report, Centre for Corporate Law and Securities Regulation, The University of Melbourne
Douglas Skinner (1994)
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ASIC limits fundraising options after continuous disclosure breach by Data and Commerce Ltd
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Mark Lang, Russell Lundholm (1998)
Corporate Disclosure Policy and Analyst Behavior
Corporate disclosure regulations are important mechanisms for investor protection. This study examines the inter‐temporal changes in analysts’ forecast properties over the period 1988–2001 as Australia’s continuous disclosure regulation and enforcement intensity changed. The effectiveness of the continuous disclosure regime has been a question of interest since its inception, but research in this area is limited. Our results suggest that analysts’ forecast accuracy and dispersion improved for sample firms in response to the proposal and introduction of continuous disclosure regulations. However, following increased enforcement from 1998, analysts’ forecast dispersion deteriorated for small firms, possibly due to a decrease in private information received by financial analysts as regulators became more proactive in enforcing the ban on selective disclosure.
Accounting & Finance – Wiley
Published: Dec 1, 2012
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