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Cost Uncertainty and Management Sale...

Zhao, Yan.

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Cost Uncertainty and Management Sales Forecasts.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Cost Uncertainty and Management Sales Forecasts./
作者:	Zhao, Yan.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
面頁冊數:	70 p.
附註:	Source: Dissertations Abstracts International, Volume: 81-04, Section: A.
Contained By:	Dissertations Abstracts International81-04A.
標題:	Accounting. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13886003
ISBN:	9781085774031

Cost Uncertainty and Management Sales Forecasts.
Zhao, Yan.

Cost Uncertainty and Management Sales Forecasts. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 70 p.

Source: Dissertations Abstracts International, Volume: 81-04, Section: A.

Thesis (Ph.D.)--State University of New York at Buffalo, 2019.

This item must not be sold to any third party vendors.

This study examines the effect of cost uncertainty on management sales forecasts. My analysis reveals that firms with more uncertain (i.e., less predictable) cost patterns are more likely to and more frequently issue management sales forecasts. Moreover, issued management sales forecasts are more accurate and informative when firms have less predictable cost patterns. These results suggest that firms endeavor to meet strong demand for sales forecasts from information users when their cost patterns are uncertain. Meanwhile, I find that firms are less likely to and less frequently issue management earnings forecasts when their costs are less predictable. These findings suggest that besides their supplementary or confirmatory role for contemporaneously issued management earnings forecasts, management sales forecasts substitute management earnings forecasts when costs are hard to predict. Using several sensitivity analyses, such as an instrumental variables approach, a difference-in-difference test using an industry-wide shock to cost uncertainty, and a simultaneous equation model, I show that my findings are robust to endogeneity concerns. Overall, the findings in this study suggest that management sales forecasts are used as a more important voluntary disclosure mechanism when a firm's cost patterns are less predictable.

ISBN: 9781085774031Subjects--Topical Terms:

557516
Accounting.
Subjects--Index Terms:

Voluntary disclosure

Cost Uncertainty and Management Sales Forecasts.
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500 $a Source: Dissertations Abstracts International, Volume: 81-04, Section: A.
500 $a Advisor: Suk, Inho.
502 $a Thesis (Ph.D.)--State University of New York at Buffalo, 2019.
506 $a This item must not be sold to any third party vendors.
506 $a This item must not be added to any third party search indexes.
520 $a This study examines the effect of cost uncertainty on management sales forecasts. My analysis reveals that firms with more uncertain (i.e., less predictable) cost patterns are more likely to and more frequently issue management sales forecasts. Moreover, issued management sales forecasts are more accurate and informative when firms have less predictable cost patterns. These results suggest that firms endeavor to meet strong demand for sales forecasts from information users when their cost patterns are uncertain. Meanwhile, I find that firms are less likely to and less frequently issue management earnings forecasts when their costs are less predictable. These findings suggest that besides their supplementary or confirmatory role for contemporaneously issued management earnings forecasts, management sales forecasts substitute management earnings forecasts when costs are hard to predict. Using several sensitivity analyses, such as an instrumental variables approach, a difference-in-difference test using an industry-wide shock to cost uncertainty, and a simultaneous equation model, I show that my findings are robust to endogeneity concerns. Overall, the findings in this study suggest that management sales forecasts are used as a more important voluntary disclosure mechanism when a firm's cost patterns are less predictable.
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650 4 $a Management. $3 516664
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