Search Results - subject:"ANALYST FORECASTS"

The disparity between long-term and short-term forecasted earnings growth

Da, Zhi; Warachka, Mitch - In: Journal of Financial Economics 100 (2011) 2, pp. 424-442

We find the disparity between long-term and short-term analyst forecasted earnings growth is a robust predictor of future returns and long-term analyst forecast errors. After adjusting for industry characteristics, stocks whose long-term earnings growth forecasts are far above or far below their...

Persistent link: https://www.econbiz.de/10008872364

How markets react to earnings announcements in the absence of analysts and institutions: evidence from the Saudi market

Alzahrani, Ahmed; Skerratt, Len - In: International Journal of Monetary Economics and Finance 3 (2010) 4, pp. 338-358

How stock markets react to news is an established area of research. We examine the behaviour of the Saudi Stock Market (SSM) in response to quarterly earnings announcements where there are no analysts' forecasts, with the aim of examining the efficiency of the market. The SSM seems to underreact...

Persistent link: https://www.econbiz.de/10009352508

Financial analysts' forecast revisions and managers' reporting behavior

Beyer, Anne - In: Journal of Accounting and Economics 46 (2008) 2-3, pp. 334-348

than to the analyst's forecasts. …

Persistent link: https://www.econbiz.de/10005492952

The Influence of Analyst and Management Forecasts on Investor Decision Making: An Experimental Approach

Chang, Millicent; Ng, Juliana; Yu, Karen - In: Australian Journal of Management 33 (2008) 1, pp. 47-67

Analyst and management forecasts signal a firm's future prospects, and research suggests that investors are conscious of the differing incentives to release news. We examine investor reaction to the information contained in these forecasts by considering whether decisions about their...

Persistent link: https://www.econbiz.de/10010769326

Analyst Activity and Firm Value: Evidence from the REIT Sector

Devos, Erik; Ong, Seow; Spieler, Andrew - In: The Journal of Real Estate Finance and Economics 35 (2007) 3, pp. 333-356

Persistent link: https://www.econbiz.de/10005068240

Estimating the Expected Cost of Equity Capital Usind Analysts’ Consensus Forecasts

Daske, Holger; Gebhardt, Günther; Klein, Stefan - In: Schmalenbach Business Review (sbr) 58 (2006) 1, pp. 2-36

In this study, we develop a technique for estimating a firm’s expected cost of equity capital derived from its stock price and analysts’ consensus earnings forecasts. Our estimation method, which is based on the residual income valuation model, extends and refines currently available...

Persistent link: https://www.econbiz.de/10005736896

Analyst Earnings Forecasts for Publicly Traded Insurance Companies

Fan, Dennis; So, Raymond; Yeh, Jason - In: Review of Quantitative Finance and Accounting 26 (2006) 2, pp. 105-136

disagreement among analysts.Analyst forecasts have a timing advantage over the random walk model. Our results also suggest that the … forecasts. The SFAS 115 has improved the superiority of analyst forecasts over the random walk forecasts for life insurers, but … the earnings forecasts of financial analysts for insurance companies. Our empirical results indicate that analyst …

Persistent link: https://www.econbiz.de/10005701208

Analyst estimation revision clusters and corporate events, Part I

Bagnoli, Mark; Levine, Stanley; Watts, Susan G. - In: Annals of Finance 1 (2005) 3, pp. 245-265

Persistent link: https://www.econbiz.de/10005808853

Analyst estimation revision clusters and corporate events, Part II

Bagnoli, Mark; Levine, Stanley; Watts, Susan G. - In: Annals of Finance 1 (2005) 4, pp. 379-393

Persistent link: https://www.econbiz.de/10005673966

The impact of pro forma profits on analyst forecasts: Some experimental evidence

Andersson, Patric; Hellman, Niclas - Economics Institute for Research (SIR), … - 2004

The trend of pro forma (non-GAAP) reporting has made it increasingly difficult for financial analysts and investors to evaluate company performance. This study investigates how pro forma reporting affects analysts’ judgments in a non-US experimental setting. The results show that analysts who...

Persistent link: https://www.econbiz.de/10005802504