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European Accounting Review Volume 16, 2007 - Issue 2
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Original Articles

Does Pro Forma Reporting Bias Analyst Forecasts?

Patric Andersson Centre for Economic Psychology, Stockholm School of Economics, Sweden
&
Niclas Hellman Department of Accounting and Managerial Finance, Stockholm School of Economics, SwedenCorrespondence[email protected]
Pages 277-298 | Published online: 29 Jun 2007

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Antti Rautiainen, Jani Saastamoinen & Kati Pajunen. (2023) Auditors’ perceptions of alternative performance measures – alternative truths and professional skepticism. Accounting in Europe 0:0, pages 1-20.
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Elaine Henry, Nan Hu & Xi Jiang. (2020) Relative Emphasis on Non-GAAP Earnings in Conference Calls: Determinants and Market Reaction. European Accounting Review 29:1, pages 169-197.
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Helena Isidro & Ana Marques. (2015) The Role of Institutional and Economic Factors in the Strategic Use of Non-GAAP Disclosures to Beat Earnings Benchmarks. European Accounting Review 24:1, pages 95-128.
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Steven Young. (2014) The drivers, consequences and policy implications of non-GAAP earnings reporting. Accounting and Business Research 44:4, pages 444-465.
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Arjan Brouwer, Arshia Faramarzi & Martin Hoogendoorn. (2014) Does the New Conceptual Framework Provide Adequate Concepts for Reporting Relevant Information about Performance?. Accounting in Europe 11:2, pages 235-257.
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Stefano Cascino, Mark Clatworthy, Beatriz García Osma, Joachim Gassen, Shahed Imam & Thomas Jeanjean. (2014) Who Uses Financial Reports and for What Purpose? Evidence from Capital Providers. Accounting in Europe 11:2, pages 185-209.
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Joerg-Markus Hitz. (2010) Press Release Disclosure of ‘Pro Forma’ Earnings Metrics by Large German Corporations – Empirical Evidence and Regulatory Recommendations. Accounting in Europe 7:1, pages 63-86.
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Articles from other publishers (35)

Mark Brosnan, Keith Duncan, Tim Hasso & Janice Hollindale. (2023) Happy 20-year anniversary non-GAAP earnings: a systematic review of the literature. Journal of Accounting Literature.
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Mark Brosnan, Keith Duncan, Tim Hasso & Janice Hollindale. (2023) Non‐GAAP earnings and executive compensation: An experiment . Accounting & Finance.
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Xiaomeng Charlene Chen, Andreas Hellmann & Suresh Sood. (2022) A framework for analyst economic incentives and cognitive biases: Origination of the walk-down in earnings forecasts. Journal of Behavioral and Experimental Finance 36, pages 100759.
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Sascha B. Herr, Peter Lorson & Jochen Pilhofer. (2022) Alternative Performance Measures: A Structured Literature Review of Research in Academic and Professional Journals. Schmalenbach Journal of Business Research.
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Yu-An Chen, Ann F. Medinets & Dan Palmon. (2021) Disclosure regulations work: The case of regulation G. Review of Quantitative Finance and Accounting 58:3, pages 1037-1062.
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Claudia Arena, Simona Catuogno & Nicola Moscariello. (2020) The unusual debate on non-GAAP reporting in the current standard practice. The lens of corporate governance. Journal of Management and Governance 25:3, pages 655-684.
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Fengfei Li, Chen Lin & Tse-Chun Lin. (2021) Salient anchor and analyst recommendation downgrade. Journal of Corporate Finance 69, pages 102033.
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Patric Andersson & Niclas Hellman. (2020) Analysts’ evaluations of acquisitions: Swedish survey evidence on IFRS knowledge and the use of accounting information for valuation purposes. Journal of International Accounting, Auditing and Taxation 41, pages 100354.
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Jeppe Christoffersen & Simone Stæhr. (2019) Individual risk tolerance and herding behaviors in financial forecasts. European Financial Management 25:5, pages 1348-1377.
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Pınar OKAN GÖKTEN. (2019) ULUSLARARASI MUHASEBE STANDARTLARI KURULU’NUN PERFORMANS RAPORLAMASINA BAKIŞ AÇISI: 1989’DAN 2018’E NE DEĞİŞTİ?INTERNATIONAL ACCOUNTING STANDARDS BOARD’S PERSPECTIVE ON PERFORMANCE REPORTING: WHAT HAS CHANGED FROM 1989 TO 2018?. Muhasebe ve Vergi Uygulamaları Dergisi 12:2, pages 475-496.
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Folototo Seve & Mark Wilson. (2019) Direct and substitution effects of regulations impacting the scope for classification shifting. Journal of Accounting and Public Policy 38:3, pages 171-198.
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Dirk E. Black, Theodore E. Christensen, Jack T. Ciesielski & Benjamin C. Whipple. (2018) Non-GAAP reporting: Evidence from academia and current practice. Journal of Business Finance & Accounting 45:3-4, pages 259-294.
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Ana Marques. (2017) Non-GAAP earnings: international overview and suggestions for future research. Meditari Accountancy Research 25:3, pages 318-335.
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Elisabeth Sinnewe, Jennifer L. Harrison & Albert Wijeweera. (2017) Future Cash Flow Predictability of Non-IFRS Earnings: Australian Evidence. Australian Accounting Review 27:2, pages 118-128.
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Ervin L. Black, Theodore E. Christensen, Paraskevi Vicky Kiosse & Thomas D. Steffen. (2016) Has the Regulation of Non-GAAP Disclosures Influenced Managers’ Use of Aggressive Earnings Exclusions?. Journal of Accounting, Auditing & Finance 32:2, pages 209-240.
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Encarna Guillamon‐Saorin, Helena Isidro & Ana Marques. (2017) Impression Management and Non‐GAAP Disclosure in Earnings Announcements. Journal of Business Finance & Accounting 44:3-4, pages 448-479.
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Manfred KühnbergerManfred Kühnberger. 2017. Kapitalmarktorientierte Rechnungslegung. Kapitalmarktorientierte Rechnungslegung 249 365 .
Daniel Reimsbach & Rüdiger Hahn. (2015) The Effects of Negative Incidents in Sustainability Reporting on Investors’ Judgments-an Experimental Study of Third-party Versus Self-disclosure in the Realm of Sustainable Development. Business Strategy and the Environment 24:4, pages 217-235.
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Daniel Reimsbach. (2013) Pro forma earnings disclosure: the effects of non-GAAP earnings and earnings-before on investors’ information processing. Journal of Business Economics 84:4, pages 479-515.
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Karola Bastini & Rainer Kasperzak. (2016) Erkenntnisfortschritt in der Rechnungslegung durch experimentelle Forschung? — Diskussion methodischer Grundsatzfragen anhand der Entscheidungsnützlichkeit des Performance Reporting. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung 65:7, pages 622-660.
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Helena Isidro & Ana Marques. (2013) The Effects of Compensation and Board Quality on Non-GAAP Disclosures in Europe. The International Journal of Accounting 48:3, pages 289-317.
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Nerissa C. Brown, Theodore E. Christensen & W. Brooke Elliott. (2012) The Timing of Quarterly ‘Pro Forma’ Earnings Announcements. Journal of Business Finance & Accounting 39:3-4, pages 315-359.
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Frédéric Pourtier. (2010) Utilité comparée des comptes consolidés pro forma : approche théorique et normative. Comptabilité Contrôle Audit Tome 16:3, pages 41-77.
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Susan M. Albring, María T. Cabán‐García & Jacqueline L. Reck. (2010) The value relevance of a non‐GAAP performance metric to the capital markets. Review of Accounting and Finance 9:3, pages 264-284.
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Jörg-Markus Hitz. (2010) Information versus adverse Anlegerbeeinflussung: Befund und Implikationen der empirischen Rechnungswesenforschung zur Publizität von Pro-forma-Ergebnisgrößen. Journal für Betriebswirtschaft 60:2, pages 127-161.
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Miho Nakamura, Kyoko Nagata, Chikako Ozu & Sidney J. Gray. (2022) What Factors Affect Preparers’ Attitude Towards IFRS?: Another View. SSRN Electronic Journal.
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Riddha Sattam Basu, Spencer Pierce & Andrew Stephan. (2017) The Effect of Investor Inattention on Voluntary Disclosure. SSRN Electronic Journal.
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Dirk E. Black, Theodore E. Christensen, Jack T. Ciesielski & Benjamin C. Whipple. (2017) Non-GAAP Reporting: Evidence from Academia and Current Practice. SSRN Electronic Journal.
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Ana Cristina Marques. (2017) Non-GAAP Earnings: International Overview and Suggestions for Research. SSRN Electronic Journal.
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Fengfei Li, Chen Lin & Tse-Chun Lin. (2015) Does Anchoring Heuristic Affect Analyst Recommendation Revisions?. SSRN Electronic Journal.
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Stefano Cascino, Mark Clatworthy, Beatriz Garcia Osma, Joachim Gassen, Shahed Imam & Thomas Jeanjean. (2014) Who Uses Financial Reports and for What Purpose? Evidence from Capital Providers. SSRN Electronic Journal.
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Encarna Guillamon Saorin, Helena Isidro & Ana Cristina Marques. (2012) Impression Management and Non-GAAP Reporting in Earnings Announcements. SSRN Electronic Journal.
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Helena Isidro & Ana Cristina Marques. (2010) The Effects of Managers’ Compensation and Board Quality on Non-GAAP Reporting Decisions. SSRN Electronic Journal.
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Joerg-Markus Hitz. (2010) Information Versus Strategic Reporting: Determinants of the Disclosure of Pro Forma Earnings by Large German Corporations. SSRN Electronic Journal.
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Helena Isidro & Ana Cristina Marques. (2008) Non-GAAP Financial Disclosures: Evidence from European Firms' Press Releases. SSRN Electronic Journal.
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