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forecast errors, and measures of technological conditions in the firm's industry investment environment. Our contention is … forecasts reflect efforts to evaluate the firms' long-run prospects. We also present results for analysts' forecast errors that …
Persistent link: https://www.econbiz.de/10013029731
” in recognizing both cost variability and cost stickiness, resulting in substantial and systematic earnings forecast …
Persistent link: https://www.econbiz.de/10013035054
forecast when actual earnings exceed the consensus and the most pessimistic forecast when the consensus exceeds actual earnings …
Persistent link: https://www.econbiz.de/10012992160
individual analysts' forecasts. Using forecast accuracy improvements, forecast boldness, and the price impact of forecasts as … measures of forecast quality, we find that in the information discovery phase that precedes an earnings announcement event …
Persistent link: https://www.econbiz.de/10012905635
forecasts, this bias tending to be higher in countries with less investor protection. This forecast bias declined significantly …
Persistent link: https://www.econbiz.de/10012905642
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...
Persistent link: https://www.econbiz.de/10012905860
Existing accounting-based forecasting models of earnings either do not fully consider information that is contained in stock prices or use an ad hoc specification that is not based on rigorous valuation theory. In this paper, we develop an earnings forecasting model built on the theoretical...
Persistent link: https://www.econbiz.de/10012909212
find that (1) analyst earnings forecast errors are smaller, and (2) the magnitude of disagreement between individual … forecasts and the average forecast is lower for firms that provide SLG, beyond the effect of group-level guidance. The results …
Persistent link: https://www.econbiz.de/10012900343
is a cost-saving measure, a natural byproduct of analysts focusing on thematic research, and a reflection of forecast … forecast bundling has important implications for the properties of analysts' forecasts …
Persistent link: https://www.econbiz.de/10012902228
how they plan to achieve their bottom-line earnings targets. We assess the effect of this forecast disaggregation on the …. First, disaggregation plays a more important role when earnings are otherwise more difficult to forecast. Second …
Persistent link: https://www.econbiz.de/10013067301