Читать книгу Winning Investors Over - Baruch Lev - Страница 14

CFOs are afraid of missing the consensus, according to an extensive CFO survey published in 2005 by John Graham and colleagues.²² A majority of the CFOs surveyed considered a consensus miss a serious setback to the company, and some indicated that they would even sacrifice certain future growth (by, say, cutting R&D) to meet the consensus. The specter of missing the consensus, say CFOs, is also a major driver of information manipulation. But, as this chapter’s title indicates and the following evidence corroborates, missing the consensus is far from the end of the world, and its consequences can be mitigated. Thus, even CFOs have something to learn.