“…Another stream of literature documents discontinuities in earnings distribution at various benchmarks such as zero earnings, prior earnings, analyst forecasts and rounded numbers (Burgstahler and Dichev, 1997; Degeorge et al , 1999; Carvajal et al , 2015; Coulton et al , 2015; Kent and Routledge, 2015; Thomas, 1989; Yang and Dong, 2015; Wang et al , 2010; Lee and Choi, 2016). Debate is still going on as to the causes of the discontinuities.…”