Caton, Gary L.; Chan, Justin S.P.; Goh, Jeremy; Yang, … - In: International Review of Economics & Finance 20 (2011) 3, pp. 376-387
Using the bootstrap method, we explore the characteristics of revisions in Japanese earnings forecast data. We find that forecast revisions exhibit a downward trend over time as the actual earnings announcement date approaches, and are serially correlated with three significant lags. Using these...