NDLI: Operational restructurings: where’s the beef?

Content Provider	Springer Nature Link
Author	Hill, Mary S. Johnson, Peter M. Liu, Kelvin X. T. Lopez, Thomas J.
Copyright Year	2014
Abstract	This study provides new evidence on the performance consequences of operational restructurings. Although managers claim that restructurings increase the efficiency and profitability of companies, prior studies reached mixed conclusions regarding the post-restructuring operational effectiveness of these events. Our evidence is consistent with the following conclusions. First, restructuring firms appear to perform better in reporting earnings relative to analysts’ forecasts after restructuring. Second, the ability of firms to meet or beat analysts’ forecasts after restructuring appears to be related to real performance improvements after restructuring. Consistent with that conclusion, we find substantial restructuring-related increases in both pre-managed earnings and operating cash flows. Overall, our results are consistent with suggestions of management that restructurings are undertaken to improve operating efficiency over the long term.
Starting Page	721
Ending Page	755
Page Count	35
File Format	PDF
ISSN	0924865X
Journal	Review of Quantitative Finance and Accounting
Volume Number	45
Issue Number	4
e-ISSN	15737179
Language	English
Publisher	Springer US
Publisher Date	2014-05-01
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Analysts Earnings management Analysts’ forecasts Market efficiency Restructuring charges Operating performance Finance/Investment/Banking Accounting/Auditing Econometrics Operations Research/Decision Theory
Content Type	Text
Resource Type	Article
Subject	Finance Accounting

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

The Performance Consequences of Operational Restructurings

Market implied future earnings and analysts’ forecasts

Relative accuracy of analysts’ earnings forecasts over time: a Markov chain analysis

Does Regulation Fair Disclosure affect analysts’ forecast performance? The case of restructuring firms

The effect of repeat restructuring charges on analysts’ forecast revisions and accuracy

The impact of accruals and lines of business on analysts’ earnings forecast superiority

Detailed management earnings forecasts: do analysts listen?

CEO bonus compensation: the effects of missing analysts’ revenue forecasts

Are aggregate corporate earnings forecasts unbiased and efficient?

Operational restructurings: where’s the beef?

Similar Documents

The Performance Consequences of Operational Restructurings

Market implied future earnings and analysts’ forecasts

Relative accuracy of analysts’ earnings forecasts over time: a Markov chain analysis

Does Regulation Fair Disclosure affect analysts’ forecast performance? The case of restructuring firms

The effect of repeat restructuring charges on analysts’ forecast revisions and accuracy

The impact of accruals and lines of business on analysts’ earnings forecast superiority

Detailed management earnings forecasts: do analysts listen?

CEO bonus compensation: the effects of missing analysts’ revenue forecasts

Are aggregate corporate earnings forecasts unbiased and efficient?

Operational restructurings: where’s the beef?