As in China s market there also has some earnings autocorrelation problsms with false estimated unexpected earnings, so the earnings momentum is coincident with USA market.

Collecting all listed companies of Shanghai stock market from 2001 to 2004 as the samples,this paper makes the positive analysis on the relationship between the unexpected earnings,audit report,the performance of the companies etc and the absolute timeliness and the relative timeliness of the annual financial reports.

With the annual announcements between 1997—2004 and the special background of China security market,we investigate the effects of audit opinions and unexpected earnings on the timeliness of annual announcements.

The Source of Optimism in Financial Analysts' Earnings Forecast:A Literature Review

The conclusion is that precision of analysts earnings forecast is enhanced by increasing in the numbers of analysts and by improving on earnings predictability and information disclosure.

The paper uses a series of error measure standards to compare the accuracy of earnings forecasts between companies of H share and Red Chips and local firms of Hong Kong Our findings show that the accuracy of firms of H share and Red Chips is more accurate than that of local companies of Hong Kong.

Thus,before making investment decisions by taking advantage of the earnings notices,investors are advised to take careful considerations of the choices of the opportunistic disclosure when the management is faced with financial risks;the regulatory authorities should do the same when constituting the relevant provisions on the surplus notice.