skip to main content
Language:
Search Limited to: Search Limited to: Resource type Show Results with: Show Results with: Search type Index

Mandatory Management Forecasts and Post-SEO Performance: Evidence from Japan

Seoul Journal of Business, 2023, 29(1), , pp.25-63 [Peer Reviewed Journal]

Copyright Seoul National University, College of Business Administration Jun 2023 ;ISSN: 1226-9816 ;DOI: 10.35152/snusjb.2023.29.l.002

Full text available

Citations Cited by
  • Title:
    Mandatory Management Forecasts and Post-SEO Performance: Evidence from Japan
  • Author: Choi, Wooseok ; Shim, Jung Wook ; Oh, Seungbin ; Baik, In Young
  • Subjects: Annual reports ; Bias ; Disclosure ; Equity ; Financial statements ; Fiscal years ; Optimism ; Profitability ; Profits ; 경영학
  • Is Part Of: Seoul Journal of Business, 2023, 29(1), , pp.25-63
  • Description: [...]Japan, the largest bank-centered economy, provides a useful setting to examine the effect of firm-bank relationships on management forecasts. The underlying firm-bank relationship differs markedly across bank-centered financial systems including Japan and Germany and capital market-centered systems including the U.S. For instance, although a typical Japanese firm maintains relationships with several banks, its largest lender, the "main" bank, owns its client firm's stock and thus is particularly knowledgeable about the client firm's prospects. [...]it is well-known that studies using management forecasts released by the U.S. firms are subject to endogeneity and self-selection regarding disclosure (Healy and Palepu 2001). [...]we show that strong main bank relationships can reduce management forecast error and post-SEO underperformance, thereby extending prior research on the benefits of bank relationships (Diamond 1984, 1991; Fama 1985; Shleifer and Vishny 1997).
  • Publisher: Seoul: Seoul National University, College of Business Administration
  • Language: English
  • Identifier: ISSN: 1226-9816
    DOI: 10.35152/snusjb.2023.29.l.002
  • Source: Alma/SFX Local Collection
    ProQuest Central
Back to results list
INSPIRE LIBRARY - TON DUC THANG UNIVERSITY (84-028) 37 755 057 Feedback
19 Nguyen Huu Tho St. Dist.7, HCM thuvien@tdtu.edu.vn

Copyright © 2017 INSPIRE LIBRARY - TON DUC THANG UNIVERSITY

Searching Remote Databases, Please Wait