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| Author: | Dowen, R. Bauman, S. |
| Title: | Financial statements, investment analyst forecasts and abnormal returns |
| Journal: | Journal of Business Finance and Accounting
1995 : APR, VOL. 22:3, p. 431-448 |
| Index terms: | ACCOUNTING FINANCE RETURN ON INVESTMENT |
| Language: | eng |
| Abstract: | Financial analyst forecasts fail to stisfy the requirements of rational expectations. Specifically, these forecasts fail to take into account the information content of the data in published financial statements. Nevertheless, it is not possible, using the methodology employed here, to earn abnormal returns bsed on the forecasted error in the analyst projections. |
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