Title: A Measure of the Precision of
Forward-Looking
Management Decision & Analysis (Md&A) Statements
Abstract: Even though the SEC recommends
providing
forward-looking information to investors, they do not provide guidance
regarding
how precise the forward-looking statements should be. Are firms
providing
precise forecasts of future performance in their MD&A narratives?
This
paper extends the research on MD&A narratives by providing a
measure
of the precision of quantitative forward-looking narratives in MD&A
disclosures.
Author: Anita Morgan
