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Ann-Christine Schulz
BusinessInstitutional investorLayoffEarningsInvestment analyst
2Publications
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Research Summary: We propose that due to financial market pressures, managers are forward‐looking in their search and decision processes and focus on meeting performance targets set by the financial community. Using panel data on S&P 100 companies, we find that pressure felt by management to meet the analyst consensus earnings estimate influences the extent of corporate downsizing. Moreover, our results show that high levels of institutional investor stock ownership and CEO power attenuate manag...
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This article investigates the impact of investment analyst earnings expectations on corporate downsizing decisions. Drawing on the behavioral theory of the firm, we propose that earnings expectatio...
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