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Do Analysts Forecasts Vary Too Much?
Lundholm, Russell J. - 2020
In this paper we examine the time-series and cross-sectional volatility in analyst forecasts. We derive a bound on the degree of variation in forecasts, analogous to the variance bound literature in finance, and document the frequency and circumstances surrounding violations of this bound. We...
Persistent link: https://www.econbiz.de/10012856368
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Target price forecasts : The roles of the 52-week high price and recent investor sentiment
Clarkson, Peter M.; Nekrasov, Alexander; Simon, Andreas; … - 2020
reliance does not translate into an increased impact per unit of each non-fundamental factor on forecast bias. Finally, our …
Persistent link: https://www.econbiz.de/10012857242
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Investor Attention to Salient Features of Analyst Forecasts
Athanasakou, Vasiliki E. - 2014
analyst forecasts. We focus on rounding as arguably the most salient forecast feature. We find that while rounding is only … marginally associated with forecast accuracy, investors attribute to it undue significance. Investors view rounding as distinctly … informative to other analyst characteristics that determine forecast accuracy and the likelihood of rounding. Unlike previous …
Persistent link: https://www.econbiz.de/10013058142
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Analysis of the Residual Income Valuation and Abnormal Earnings Growth Models : A Practical Approach Using Analysts’ Forecasts
Almeida, Jose Elias Feres de - 2015
) we show in a practical manner that models converge to the same results based on real data of analysts forecast consensus …
Persistent link: https://www.econbiz.de/10013018528
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An Improved Earnings Forecasting Model
Harris, Richard D. F. - 2016
In this paper, we employ the earnings model developed in Ashton and Wang (2013) to forecast the one- to three …
Persistent link: https://www.econbiz.de/10012987876
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Do Analysts’ Cash Flow Forecasts Improve the Accuracy of Their Target Prices?
Hashim, Noor - 2016
Current evidence on the sophistication of analysts' cash flow forecasts is ambiguous. For example, Call et al. (2009) show that issuing cash flow forecasts has important benefits for analysts' earnings forecasts, while Givoly et al. (2009) question the validity of this result, arguing that...
Persistent link: https://www.econbiz.de/10012988560
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Do Analysts’ Cash Flow Forecasts Improve the Accuracy of Their Target Prices?
Hashim, Noor - 2016
Current evidence on the sophistication of analysts' cash flow forecasts is ambiguous. For example, Call et al. (2009) show that issuing cash flow forecasts has important benefits for analysts' earnings forecasts, while Givoly et al. (2009) question the validity of this result, arguing that...
Persistent link: https://www.econbiz.de/10012988890
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Analysts' use of range information provided in management earnings forecasts
Jensen, Tyler - 2015
accuracy. In sum, we find that analysts react to information conveyed by all four parameters of a management range forecast and …
Persistent link: https://www.econbiz.de/10013036561
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Volatility Forecasting Using Financial Statement Information
Sridharan, Suhas A. - 2015
. My main hypothesis is accounting-based drivers can be used to forecast future volatility incremental to either past …
Persistent link: https://www.econbiz.de/10013037345
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Modeling and Forecasting a Firm's Financial Statements with a VAR-VECM Model
Doornik, Bernardus Ferdinandus Nazar Van; de Medeiros, … - 2009
This paper details efforts at developing and estimating a Vector Autoregressive (VAR) econometric model representative of the financial statements of a firm. Although the model can be generalized to represent the financial statements of any firm, this work was carried out as a case study, where...
Persistent link: https://www.econbiz.de/10014211147