Incremental information content of required disclosures contained in management discussion and analysis

被引:23
作者
Bryan, SH
机构
关键词
Management Discussion and Analysis; content analysis; information content;
D O I
暂无
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This paper analyzes seven mandated disclosures contained in Management Discussion and Analysis (MD&A) to assess their information content. Generally, the results show that certain MD&A disclosures, particularly the discussions of future operations and planned capital expenditures, are associated with future (short-term) performance measures and investment decisions, after controlling for information contained in financial-statement-based ratios. However, the associations with longer-term results are generally not significant. The study illustrates that, in conjunction with the financial statements, the MD&A disclosures, especially prospective disclosures, can assist in assessing firms' future (short-term) prospects.
引用
收藏
页码:285 / 301
页数:17
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