We study whether financial analysts' concern for preserving good relationships with firms' managers motivates them to issue pessimistic or optimistic forecasts. Based on a dataset of one-yearahead EPS forecasts issued by 4 648 analysts concerning 241 French firms (1997-2007), we regress the analysts' forecast accuracy on its unintentional determinants. We then decompose the fixed effect of the ...
| Year of publication: |
2013-04
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| Authors: | Vaubourg, Anne-Gael ; Berisha-Krasniqui, Valdete ; Galanti, Sébastien ; Hurlin, Christophe ; Breton, Régis |
| Institutions: | Laboratoire d'Analyse et de Recherche Économiques et Finance Internationales (LAREFI), Université de Bordeaux |
| Subject: | financial analysts | earnings forecasts | soft information | panel regression |
| Extent: | application/pdf |
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| Series: | |
| Type of publication: | Book / Working Paper |
| Notes: | Number 1304 49 pages |
| Classification: | C59 - Econometric Modeling. Other ; D84 - Expectations; Speculations ; G17 - Financial Forecasting ; G24 - Investment Banking; Venture Capital; Brokerage |
| Source: |
Persistent link: https://www.econbiz.de/10010772218