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that the average forecast error has decreased over time reflecting the maturing of the Chinese securities firms. Affiliated … than un-affiliated firms which is contrary to findings from other countries. Also, forecast errors produced by local … to forecast earnings. Finally financial markets react stronger to stock recommendations by star analysts …
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Investor relations represents a firm's commitment to communicate effectively with the external community which includes investors and analysts and both mandatory and voluntary information release is expected to reduce information asymmetry. We investigate the effects of disclosure quality on...
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We test the implications of anchoring bias associated with forecast earnings per share (FEPS) for forecast errors … more positive forecast revisions, more negative forecast errors, and more negative earnings surprises after a stock split …
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The state of the art in the analyst forecasting literature is that analyst earnings forecast ability is only firm … absence of a “spillover” effect, i.e., investors do not consider an analyst's earnings forecast ability regarding firm k when … reacting to his earnings forecast revision for firm j. We re-examine the issue of whether or not earnings forecast ability is …
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Firms whose quarterly earning announcements closely meet the most recent analyst consensus forecast enjoy higher long …
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changes in the SG&A ratio are informative about future earnings, analyst forecast revisions, and stock returns under these … future earnings. I also find that analysts do not impound all of the information contained in the signals into their forecast …
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This study examines the immediate and delayed market responses to revisions in analyst forecasts of earnings, target prices, and recommendations. Consistent with prior literature, revisions in earnings forecasts are positively and significantly associated with short-term market returns around...
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