The Joint Influences of Resource and Time Bases in Management Earnings Guidance Disclosure

Wahyuni, Sri and Hartono, Jogiyanto (2021) The Joint Influences of Resource and Time Bases in Management Earnings Guidance Disclosure. Lecture Notes in Networks and Systems, 194 LN. 1926 – 1946. ISSN 23673370

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Abstract

This study provides evidence that investor’s evaluation is jointly influenced by multiple reference points of resource (internal and external), and time (backward-and forward-looking) information associated with management earnings guidance (MEG) disclosure. Investors have greater belief when they consider a company external information (as a company’s macroeconomics information) and MEG’s time information (as forward-looking future-oriented information) in earnings announcement than a single reference point only, which in turn, influences their judgments in evaluating company’s performance. This study also presents evidence that investors have greater anchor when a company’s macroeconomics is considered in earnings announcements than do when they are given internal information only. Overall, the experimental results suggest that company external (as a company’s macroeconomics information) and MEG disclosure (as forward-looking future-oriented information) in earnings announcement, effectively help investors in evaluating company’s performance. Moreover, this study shows that MEG disclosure, besides earnings announcement, and external information, have information contents, that investors use these multiple reference points of information to predict a company’s performance in the future. © 2021, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Item Type: Article
Additional Information: Cited by: 0
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Economics & Business > Bachelor in Management
Depositing User: Sri JUNANDI
Date Deposited: 05 Oct 2024 10:21
Last Modified: 05 Oct 2024 10:21
URI: https://ir.lib.ugm.ac.id/id/eprint/8812

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