“The effects of non-GAAP disclosures on analyst forecasting accuracy”
| dc.contributor.advisor | Braam, G.J.M. | |
| dc.contributor.author | Schipper, Daan | |
| dc.date.issued | 2020-08-31 | |
| dc.description.abstract | This explorative study investigates whether and how non-GAAP disclosures made by firms listed on the Eurostoxx 600 affect analyst forecasting accuracy. In addition, the study categorizes the non-GAAP measures in four different categories, i.e., non-GAAP disclosure related to net income, operating income EBIT/EBITDA and cashflows, to explore whether these different categories have different effects on analyst forecasting accuracy. Opportunistic and informative non-GAAP disclosure are differentiated since they might have different results on analyst forecasting accuracy. Using Panel data, the results show that the effects of non-GAAP disclosure on analyst forecast accuracy are mixed and vary among different types of non-GAAP disclosures and statistical methods. The results of this paper are academically relevant since this paper is the first paper which investigates the effects of different types of non-GAAP disclosures separately and since it is focusses on Europe whereas most research related to non-GAAP disclosure related to non-GAAP disclosure focusses on the United States or Australia. The results of the paper are relevant to investors since it helps them to decide whether the non-GAAP disclosure are useful for their forecasts. | en_US |
| dc.embargo.lift | 10000-01-01 | |
| dc.embargo.type | Permanent embargo | en_US |
| dc.identifier.uri | https://theses.ubn.ru.nl/handle/123456789/10157 | |
| dc.language.iso | en | en_US |
| dc.thesis.faculty | Faculteit der Managementwetenschappen | en_US |
| dc.thesis.specialisation | Accounting & Control | en_US |
| dc.thesis.studyprogramme | Master Economics | en_US |
| dc.thesis.type | Master | en_US |
| dc.title | “The effects of non-GAAP disclosures on analyst forecasting accuracy” | en_US |