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| Author: | Han, B. Manry, D. |
| Title: | The implications of dispersion in analysts' earnings forecasts for future ROE and future returns |
| Journal: | Journal of Business Finance and Accounting
2000 : JAN/MAR, VOL. 27:1/2, p. 99-126 |
| Index terms: | ACCOUNTING FUTURE EARNINGS |
| Language: | eng |
| Abstract: | Dispersion in analysts' forecasts is empirically evaluated by associating dispersion with a firm's future accounting rate of return-on-equity (ROE) and future returns. Forecast dispersion is significantly and negatively associated with future ROE, consistent with the notion that firm disclosures and analysts' information acquisition efforts increase as firm prospects improve. Forecast dispersion is negatively associated with future returns. |
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