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| The Kinds of Management Earnings Forecast News and the Discretionary Choice of Characteristic of Forecast Disclosure |
| GAO Jing-zhong ZHOU Xiao-su |
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Abstract Using the data of the A-stock-market listed companies in China from 1st quarter of 2004 to the 4th quarter of 2007, this paper conducts the test of the effect of corporate litigation risk on the selection of management earnings forecast accuracy, timeliness and attitude. We find that: the management chooses more precise forecast characteristic for the kind of good news earnings forecast than for bad news earnings forecast; but the attitude toward bad news earnings forecast tends to be less pessimistic or relatively optimistic. Our finding shows that the managements have discretionary disclosure in earnings forecast of different kinds of earnings forecast news.
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Received: 23 June 2009
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Corresponding Authors:
GAO Jing-zhong
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2009, Vol. 1 
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