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| Author: | Wild, J. Kwon, S. |
| Title: | Earnings expectations, firm size, and the informativeness of stock prices |
| Journal: | Journal of Business Finance and Accounting
1994 : OCT, VOL. 21:7, p. 975-996 |
| Index terms: | EARNINGS EXPECTATIONS SHARE PRICES |
| Language: | eng |
| Abstract: | The notion that prices impound a wide array of information including market expectations, has led to earnings forecast models conditioned on prices. Yet, presumably, analysts' forecasts capture both public information and certain private information not previously impounded in prices. Accordingly, price-based models are seemingly an inefficient, and less effective, source of expectations. |
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