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Abstract This paper investigates the motivation and consequences of managers'attribution behavior in management revised forecasts. Our results indicate that managers tend to attribute the bad news to external factors,and the tendency gets stronger with managers'dismissal risk.Further evidence demonstrates that the attribution strategy can reduce managers'dismissal risk induced by bad performance.We interpret the results as evidence that managers are self-attributional biased in revised management forecasts and managers can rationally protect themselves through this strategy.
Key words Management Revised Forecasts；Self-attribution；Dismissal Risk