%0 Journal Article
%T How Inflation Affects the Management Earnings Forecasts
%A Jingyuan Zou
%J American Journal of Industrial and Business Management
%P 21-48
%@ 2164-5175
%D 2019
%I Scientific Research Publishing
%R 10.4236/ajibm.2019.91003
%X I use<span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">2005-2017 Shenzhen</span></span></span><span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">and Shanghai¡¯s A-share
listed company¡¯s quarterly earnings forecasts data as sample to perform multiple
regression analysis. I find that when inflation rate rises, not only management¡¯s
possibility of making</span></span></span><span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">earnings
forecasts</span></span></span><span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">but
also the precision and accuracy of management forecasts declines,</span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"> <i></i></span></span></span><i><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><i><span style=\"font-family:Verdana;\">ceteris paribus</span></i></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><i><span style=\"font-family:Verdana;\"></span></i></span></span></i><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">. Furthermore,
I</span></span></span><span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">also find
that when inflation rate rises, the state-owned nature of enterprises will
aggravate the decline</span></span></span><span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">in</span></span></span><span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\"><span style=\"font-family:Verdana;\">the precision and accuracy
of listed companies¡¯ earnings forecasts.</span></span></span><span><span><span style=\"font-family:;\" \"=\"\"> </span></span></span><span
%K Management Earnings Forecast
%K Inflation
%K Voluntary Information Disclosure
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=89730