The Rewards to Meeting or Beating Earnings Expectations
The Rewards to Meeting or Beating Earnings Expectations March 1999 Current Version: October 2000 Eli Bartov, Dan Givoly and Carla Hayn * We thank Michael Brennan, Jack Hughes, Patricia Hughes, Jim Ohlson and Joshua Ronen for their helpful comments on this paper. The capable computer assistance provided by Ashok Natarajan is appreciated. I/B/E/S International, Inc. provided data on analysts’ earnings forecasts. * The authors are, respectively, at New York University, University of California at Irvine, and University of California at Los Angeles.