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dc.contributor.authorHope, Ole-Kristian
dc.contributor.authorLi, Congcong
dc.contributor.authorMa, Mark Shuai
dc.contributor.authorSu, Xijiang
dc.date.accessioned2023-08-24T13:06:16Z
dc.date.available2023-08-24T13:06:16Z
dc.date.created2022-08-22T13:57:05Z
dc.date.issued2022
dc.identifier.citationReview of accounting studies. 2022, 1-42.en_US
dc.identifier.issn1380-6653
dc.identifier.urihttps://hdl.handle.net/11250/3085674
dc.description.abstractThe many management guidance withdrawals during the COVID-19 pandemic have attracted considerable attention from the media, investors, and regulators. This study analyzes the determinants and consequences of these withdrawals. We find that guidance withdrawals are due to economic uncertainty, resulting from firms’ exposure to the COVID-19 pandemic rather than poor financial performance. Also, the effect of COVID-19 exposure on guidance withdrawals is stronger when firms face higher litigation risk. Further, guidance withdrawals result in abnormally large trading volumes and high analyst forecast dispersion but do not harm stock prices or the level of analyst earnings forecasts. Overall we believe the findings have implications for understanding corporate disclosure practices during periods with heightened economic uncertainty.en_US
dc.language.isoengen_US
dc.publisherSpringeren_US
dc.subjectCOVID-19 pandemicen_US
dc.subjectEconomic uncertaintyen_US
dc.subjectManagement guidanceen_US
dc.subjectGuidance withdrawalen_US
dc.subjectAnalyst forecastsen_US
dc.titleIs silence golden sometimes? Management guidance withdrawals during the COVID-19 pandemicen_US
dc.title.alternativeIs silence golden sometimes? Management guidance withdrawals during the COVID-19 pandemicen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionacceptedVersionen_US
dc.rights.holderSpringeren_US
dc.source.pagenumber1-42en_US
dc.source.journalReview of accounting studiesen_US
dc.identifier.doi10.1007/s11142-022-09698-w
dc.identifier.cristin2044977
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode2


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