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An Empirical Study of Financial Analysts Earnings Forecast Accuracy
Stotz, Andrew - 2017
forecasts by 25.3%. This study may be the first of its kind to assess analyst earnings forecast accuracy at all listed companies …
Persistent link: https://www.econbiz.de/10012959862
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The nexus between analyst forecast dispersion and expected returns surrounding stock market crashes
Chong, Terence Tai-Leung; Wang, Xiaolei - In: Journal of risk and financial management : JRFM 2 (2009) 1, pp. 75-93
empirical study has investigated the nexus between the analyst forecast dispersion (AFD) and excess returns surrounding stock …
Persistent link: https://www.econbiz.de/10011556115
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The Role of 'Other Information' in Analysts’ Forecasts in Understanding Stock Return Volatility
Shan, Yaowen - 2013
This study proposes and validates “other information” in analysts' forecasts as a legitimate proxy for future cash flows, and examines its incremental role in explaining stock return volatility. We suggest that “other information” contains information about fundamentals beyond that...
Persistent link: https://www.econbiz.de/10013075116
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Does Soft Information Matter? An Application of Gravity Models to Financial Analysts' Forecasts
Galanti, Sébastien - 2011
measure of soft information. Using a panel regression of analysts forecast error on observable firm-specific, analyst …-effect is associated with a low forecast error, and that a high pair-effect is associated with a high forecast error, may the …. Although they refer to opposite forecast patterns, pessimism and optimism both result from the same analyst's concern to …
Persistent link: https://www.econbiz.de/10013128448
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Does Competition between Stars Increase Output? Evidence from Financial Analyst Forecasts
Aharoni, Gil - 2019
Top sportsmen often refer to competition against other top sportsmen as a motivation to exert more effort. We examine whether a similar pattern exists among another group of top professionals – star analysts. Our evidence suggests that star analysts concentrate their efforts and generate...
Persistent link: https://www.econbiz.de/10012904927
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Properties of Implied Cost of Capital Using Analysts’ Forecasts
Guay, Wayne R. - 2012
We evaluate the influence of measurement error in analysts' forecasts on the accuracy of implied cost of capital estimates from various implementations of the ‘implied cost of capital' approach, and develop corrections for the measurement error. We document predictable error in the implied...
Persistent link: https://www.econbiz.de/10013114798
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Implications of Analysts’ Consensus Forecast Error for Measurement of Market Expectation and Predictability of Stock Returns
Kim, Jung Hoon - 2012
based on the absolute analysts' consensus forecast errors and determinants. The findings of this study indicate that …
Persistent link: https://www.econbiz.de/10013102171
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The Role of Disaggregation of Earnings in Stock Valuation and Earnings Forecasting
Wang, Pengguo - 2013
This paper compares and contrasts two accounting information systems, the aggregate earnings system and the disaggregated cash flow/accrual system, examining their relative performance in stock valuation and in forecasting of earnings. It finds, in general, that the forecasts of earnings and...
Persistent link: https://www.econbiz.de/10013088381
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Product Market Competition and Analyst Forecasting Activity : International Evidence
Haw, In-Mu - 2015
, higher forecast accuracy, and lower forecast dispersion. Moreover, the effect of product market power on analyst following … and forecast properties is more pronounced in countries with less effective competition laws and higher entry costs. These …
Persistent link: https://www.econbiz.de/10013031494
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Return predictability and valuation ratios : sector-level evidence on the Johannesburg Stock Exchange
Chipunza, Kudakwashe Joshua; Muguto, Hilary Tinotenda; … - In: Cogent economics & finance 8 (2020) 1, pp. 1-27
The efficient market hypothesis describes an efficient market as one in which investors cannot consistently predict stock returns because prices instantly reflect all the information flowing into the market. However, return predictability has been documented in many markets. This study tests the...
Persistent link: https://www.econbiz.de/10013179575