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| Author | : Tanja Klettke |
| Publisher | : Springer Science & Business |
| Total Pages | : 120 |
| Release | : 2014-04-28 |
| Genre | : Business & Economics |
| ISBN | : 3658056347 |
Download New Determinants of Analysts’ Earnings Forecast Accuracy Book in PDF, ePub and Kindle
Financial analysts provide information in their research reports and thereby help forming expectations of a firm’s future business performance. Thus, it is essential to recognize analysts who provide the most precise forecasts and the accounting literature identifies characteristics that help finding the most accurate analysts. Tanja Klettke detects new relationships and identifies two new determinants of earnings forecast accuracy. These new determinants are an analyst’s “general forecast effort” and the “number of supplementary forecasts”. Within two comprehensive empirical investigations she proves these measures’ power to explain accuracy differences. Tanja Klettke’s research helps investors and researchers to identify more accurate earnings forecasts.
| Author | : Patrick J. Butler |
| Publisher | : diplom.de |
| Total Pages | : 99 |
| Release | : 2002-12-04 |
| Genre | : Business & Economics |
| ISBN | : 3832461671 |
Download The Accuracy of Analyst Forecasts Book in PDF, ePub and Kindle
Inhaltsangabe:Abstract: This paper investigates the quality of financial analysts' earnings forecasts for companies which conducted initial public offerings (IPOs) during the years 1997 to 1999. The Neue Markt in Frankfurt offers a good setting to also study the development of a young market from the beginning of its operation onwards. I find support for the notion that initial returns and analysts' forecast accuracy are negatively related. I find that analysts' forecasts were by no means accurate. Mean forecast deviation, measured as percent deviation from actual earnings per share for the fiscal year, is 186.61 percent for the average broker. The sample is inhibited by serious availability problems, but all the same allows significant findings. Inhaltsverzeichnis:Table of Contents: 1.Introduction5 2.Literature10 2.1Banking systems the German framework10 2.2Conflict of interest as regulated in the German legal system12 2.3The quality of analysts' forecasts and conflicts of interest16 2.4The long-run underperformance phenomenon23 2.5Predicting the aftermarket performance of IPOs27 2.6Summary39 3.Data41 4.Method49 5.Empirical Results53 5.1IPOs differentiated by year of issue53 5.2Disparities of actual values58 5.3Earning per share found in annual reports as basis62 5.4IPOs differentiated by industry classification67 5.5Percentage deviations differentiated by Brokers73 6.Additional Results80 6.1Large German banks seasoned vs. IPO companies80 6.2The time factor86 6.3The relevance of accounting policy88 7.Summary and Conclusion92 8.References95
| Author | : Jahidur Md Rahman |
| Publisher | : |
| Total Pages | : 18 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
Download Factors Affecting the Accuracy of Analysts' Forecasts Book in PDF, ePub and Kindle
This study conducts a comprehensive review of the literature published during 1996- 2017 to identify the factors that affect the accuracy of financial analysts' forecasts. We organize our review around three main groups, namely, (a) drivers of analyst forecast accuracy, (b) quality financial reporting, and (c) accounting standards. Among the several factors found, some factors (experience of the analyst, earnings quality, audit quality, IFRS adoption, and annual report readability) have a positive relationship with the accuracy of analysts' forecasts while others (politically connected firms, firms audited by Non-Big 4, and international GAAP differences) have a negative relationship. Our findings contribute to future research by examining the factors affecting analyst forecast accuracy from different perspectives, which will prove to be useful for academicians, regulators, investors, and financial analysts.
| Author | : Patricia C. O'brien |
| Publisher | : Forgotten Books |
| Total Pages | : 38 |
| Release | : 2016-09-26 |
| Genre | : Mathematics |
| ISBN | : 9781333752545 |
Download Forecast Accuracy of Individual Analysts Book in PDF, ePub and Kindle
Excerpt from Forecast Accuracy of Individual Analysts: A Nine-Industry Study Second, because the error terms in the fixed effects model are severely non normal, a non-parametric approach is taken. The non-parametric tests compare, for each industry, the observed distribution of analysts' average (through time) ranks with the distribution which would be expected if all analysts are alike, and each year is an independent observation. The non-parametric tests fail to reject the hypothesis that the observed distribution is identical to the expected distribution, in eight of the nine industries. Continuing research will investigate the source of the differences in the single industry in which the null hypothesis is rejected. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
| Author | : Patricia C O'Brien |
| Publisher | : Legare Street Press |
| Total Pages | : 0 |
| Release | : 2023-07-18 |
| Genre | : |
| ISBN | : 9781020791277 |
Download Forecast Accuracy of Individual Analysts Book in PDF, ePub and Kindle
This book provides a detailed analysis of the accuracy of forecasts made by individual analysts across nine different industries. It explores the factors that contribute to forecast accuracy and provides insights into how these factors can be used to improve forecasting performance. The author, Patricia C. O'Brien, is a well-respected economist and her research has significant implications for businesses and investors who rely on forecasts in their decision-making processes. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
| Author | : PATRICIA C. O'BRIEN |
| Publisher | : |
| Total Pages | : 44 |
| Release | : 1990 |
| Genre | : |
| ISBN | : |
Download FORECAST ACCURACY OF INDIVIDUAL ANALYSTS IN NINE INDUSTRIES Book in PDF, ePub and Kindle
| Author | : James Claus |
| Publisher | : |
| Total Pages | : 214 |
| Release | : 2000 |
| Genre | : |
| ISBN | : |
Download Individual Analyst Forecast Accuracy Book in PDF, ePub and Kindle
| Author | : Wenjuan Xie |
| Publisher | : |
| Total Pages | : 138 |
| Release | : 2008 |
| Genre | : |
| ISBN | : |
Download Three Essays on Analyst Earnings Forecast Book in PDF, ePub and Kindle
| Author | : Kathryn Kadous |
| Publisher | : |
| Total Pages | : 41 |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
Download Is There Safety in Numbers? The Effects of Forecast Accuracy and Forecast Boldness on Financial Analysts' Credibility with Investors Book in PDF, ePub and Kindle
This paper reports the results of an experiment that examines how analyst forecast accuracy (i.e., how close an analyst's forecast is to realized earnings) and forecast boldness (i.e. how far the analyst's forecast is from the consensus forecast) affect the analyst's perceived credibility and investors' willingness to rely on and purchase the analyst's future reports. We hypothesize and find that forecast boldness magnifies the effect of forecast accuracy on these variables. That is, analysts who provide accurate, bold forecasts experience more positive consequences than those who provide accurate, non-bold forecasts, and analysts who provide inaccurate, bold forecasts experience more negative consequences than those who provide inaccurate, non-bold forecasts. We also find that these effects are not symmetric - the negative consequences of being bold and inaccurate exceed positive consequences of being bold and accurate. Our results are not sensitive to the level of the analyst's prior reputation.
| Author | : Sundaresh Ramnath |
| Publisher | : Now Publishers Inc |
| Total Pages | : 125 |
| Release | : 2008 |
| Genre | : Business & Economics |
| ISBN | : 1601981627 |
Download Financial Analysts' Forecasts and Stock Recommendations Book in PDF, ePub and Kindle
Financial Analysts' Forecasts and Stock Recommendations reviews research related to the role of financial analysts in the allocation of resources in capital markets. The authors provide an organized look at the literature, with particular attention to important questions that remain open for further research. They focus research related to analysts' decision processes and the usefulness of their forecasts and stock recommendations. Some of the major surveys were published in the early 1990's and since then no less than 250 papers related to financial analysts have appeared in the nine major research journals that we used to launch our review of the literature. The research has evolved from descriptions of the statistical properties of analysts' forecasts to investigations of the incentives and decision processes that give rise to those properties. However, in spite of this broader focus, much of analysts' decision processes and the market's mechanism of drawing a useful consensus from the combination of individual analysts' decisions remain hidden in a black box. What do we know about the relevant valuation metrics and the mechanism by which analysts and investors translate forecasts into present equity values? What do we know about the heuristics relied upon by analysts and the market and the appropriateness of their use? Financial Analysts' Forecasts and Stock Recommendations examines these and other questions and concludes by highlighting area for future research.
