Max Hewitt

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Courses

Scholarly Contributions

Journals/Publications

• Call, A. C., Hewitt, M., Watkins, J., & Yohn, T. L. (2021). Analysts' annual earnings forecasts and changes to the I/B/E/S database. Review of Accounting Studies.
• Hewitt, M., Hodge, F. D., & Pratt, J. H. (2020). Do shareholders assess managers’ use of accruals to manage earnings as a negative signal of trustworthiness even when its outcome serves shareholders’ interests?. Contemporary Accounting Research.
• Erickson, D., Hewitt, M., & Maines, L. (2017). Do investors perceive low risk when earnings are smooth relative to the volatility of operating cash flows? Discerning opportunity and incentive to report smooth earnings. The Accounting Review, 92(3).
• Call, A. C., Hewitt, M., Shevlin, T., & Yohn, T. L. (2016). Firm-specific estimates of differential persistence and their incremental usefulness for forecasting and valuation. The Accounting Review, 91(3).
• Hewitt, M., Tarca, A., & Yohn, T. L. (2015). The effect of measurement subjectivity classifications on analysts’ use of persistence classifications when forecasting earnings items. Contemporary Accounting Research, 32(3), 1000-1023.
• Esplin, A., Hewitt, M., Plumlee, M., & Yohn, T. L. (2014). Disaggregating operating and financial activities: Implications for forecasts of profitability. Review of Accounting Studies.
• Hewitt, M. (2009). Improving Investors' Forecast Accuracy when Operating Cash Flows and Accruals Are Differentially Persistent. The Accounting Review, 84(6), 1913-1931. doi:10.2308/accr.2009.84.6.1913
  More info

  ABSTRACT: This study uses an experiment to examine (1) what factors give rise to investors' inability to fully incorporate operating cash flows and accruals into their earnings forecasts, and (2) what conditions help to improve investors' forecast accuracy when operating cash flows and accruals exhibit differential persistence. I investigate how decomposing the forecasting task and altering the presentation format combine to enable analysts and nonprofessional investors to acquire and accurately process financial statement information when operating cash flows and accruals are differentially persistent. I find that the earnings forecasts of analysts and M.B.A. students are more accurate only when participants are required to provide separate forecasts for operating cash flows and accruals and the income statement is altered to present the disaggregated cash and accrual components of earnings.

Presentations

• Hewitt, M. (2024, October). Presentation of "Does ESG goal continuity affect how investors react to firms' reasons for ESG pivots?". Utah State Research Workshop. Logan, UT.
• Hewitt, M. (2024, September). Presentation of "The confidence-based spillover effects of forecasting on managers' risk-taking". University of Connecticut Research Workshop. Storrs, CT.
• Hewitt, M. (2021, December). Presentation of "Reducing strategic uncertainty in teams by combining team and individual relative performance evaluations". University of Kentucky Research Seminar.
• Hewitt, M. (2019, April 2019). Presentation of "Motivating team output: The effects of relative performance evaluations on direct effort, indirect actions, and strategic uncertainty". Georgia Institute of Technology Research Seminar. Atlanta, GA.
• Hewitt, M. (2019, March 2019). Presentation of "Do shareholders assess managers’ use of accruals to manage earnings as a negative signal of trustworthiness even when its outcome serves shareholders’ interests?". University of South Florida Research Seminar. Tampa, Florida.
• Hewitt, M. (2019, May 2019). Presentation of "Motivating team output: The effects of relative performance evaluations on direct effort, indirect actions, and strategic uncertainty". European Accounting Association Annual Congress. Paphos, Cyprus.
• Sauciuc, A. K., Hewitt, M., & Douthit, J. (2019, January). Multi-level Relative Performance in Teams. Management Accounting Section Midyear Meeting. Ft. Lauderdale, FL: American Accounting Association.
• Sauciuc, A. K., Hewitt, M., & Douthit, J. (2018, April). Motivating Team Output: The Effects of Relative Performance Evaluations on Direct Effort, Indirect Actions, and Strategic Uncertainty. Wilfred Laurier University. Waterloo, Ontario, Canada.
• Sauciuc, A. K., Hewitt, M., & Douthit, J. (2018, June). Motivating Team Output: The Effects of Relative Performance Evaluations on Direct Effort, Indirect Actions, and Strategic Uncertainty. Global Management Accounting Research Symposium. Copenhagen, Denmark.
• Hewitt, M., Watkins, J., & Yohn, T. L. (2017, August). Presentation of "The effects of investors’ information processing limitations when incorporating return on assets into their investment decisions". American Accounting Association Annual Meeting 2017. San Diego: American Accounting Association.
• Hewitt, M. (2016, March). Presentation of "How earnings management affects investment decisions through its differential effects on a firm's cash flows and shareholders' trust in the firm's managers". University of Bern Research Seminar. Bern, Switzerland: University of Bern.
• Hewitt, M. (2015, July). Conference discussion of "Earnings Co-Movements and the Informativeness of Earnings". Accounting & Finance Association of Australia and New Zealand Annual Conference. Hobart, Australia.
• Hewitt, M. (2015, July). Conference presentation of "Firm-specific estimates of differential persistence and their incremental usefulness for forecasting and valuation". Accounting & Finance Association of Australia and New Zealand Annual Conference. Hobart, Australia.
• Hewitt, M. (2015, July). Conference presentation of "How suspicions of the method of earnings management and its underlying motive affect investors’ trust in managers and willingness to invest in the firm". Accounting & Finance Association of Australia and New Zealand Annual Conference. Hobart, Australia.