영업이익 지속성과 경영자 예측영업이익 정확성

Abstract

Operating earnings forecast that management disclosures with Fair Disclosure Regulation influences economic decision making of firm's stakeholders. As making economic decision, stakeholders want to use ex ante more accurate operating earnings forecast to avoid ex post arising loss. therefore it is necessary examined that the accuracy of management operating earnings forecast represent what earnings quality. Consistent with this view, we analyze the relationship between operating earnings persistence and the accuracy of management operating earnings forecast. it is considered that the accuracy of management operating earnings forecast is more related to operating earnings persistence of earnings quality. If operating earnings persistence is high, the current operating earnings take more shares of the future operating earnings. In other words, As forecasting the future operating earnings, management can forecast more accurately the future operating earnings by reducing forecast range. Concretely, it is analyzed that the higher operating earnings persistence, the higher the accuracy of management operating earnings forecast. The result show the relationship between operating earnings persistence and the accuracy of management operating earnings forecast. If operating earnings persistence is high, management can forecast more accurately the future operating earnings. This study contribution to the literature in several ways. The first contribution of this study is to provide an empirical evidence that stakeholders must consider operating earnings persistence making economic decision with management operating earnings forecasts. this study provides important implications to officers supervising management operating earnings forecast.