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Alexandru-Septimiu Rif
Last Name
Rif
First name
Alexandru-Septimiu
Email
alexandru.rif@unisg.ch
Phone
+41 71 224 2311
4 results
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PublicationType: conference paper
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PublicationThe Shortcomings of Segment Reporting and their Impact on Analysts' Earnings Forecasts( 2020-08-11)In this paper, we deliver US-sample based evidence suggesting that segment reporting under the "management approach" of ASC 280 (SFAS 131) biases analysts' earnings per share (EPS) forecasts. We show that the error in EPS forecasts corresponds to a profitability "gap" between profitability aggregated from segment reporting and profitability computed from consolidated financial statements. We show that the forecast error is associated with the profitability gap when reported segments lack major profitability components such as assets, revenue, or operating income. Furthermore, we end that the EPS forecast error increases with an increased segment split when controlling for diversification, suggesting that disaggregation per se does not improve the ability of equity analysts to forecast earnings. Our panel consists of a sample of 591 US listed companies and covers the period 2009 to 2016.Type: conference paper
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Publication
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PublicationType: conference paper