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| Author: | Conroy, R. Harris, R. |
| Title: | Consensus forecasts of corporate earnings : analysts' forecasts and time series methods. |
| Journal: | Management Science
1987 : JUN, VOL. 33:6, p. 725-238 |
| Index terms: | EARNINGS CORPORATE FORECASTING |
| Language: | eng |
| Abstract: | Combinations of financial analysts' forecasts and forecasts from time series methods in order to predict corporate earnings per share are empirically examined. The primary forecasting advantages of analysts over time series methods based on annual data appear to occur over short forecast horizons. Neither analysts nor other time series methods substantially outperform a random walk prediction of no change when forecasts are made near the beginning of the fiscal year. |
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