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| Author: | Bagella, M. Becchetti, L. Ciciretti, R. |
| Title: | Earning forecast error in US and European stock markets |
| Journal: | European journal of finance
2007 : JAN/FEB, VOL. 13:1-2, p. 105-122 |
| Index terms: | stock markets earnings forecasting corporate governance European Union USA |
| Freeterms: | EMS |
| Language: | eng |
| Abstract: | This paper examines the dynamics and determinants of the earning forecast bias in the United States (U.S.) and the Eurozone stock samples matched by size and industry affiliation. It is found among others that European bias is significantly higher in absolute terms, irrespective of the year and the distance from the release date, with the exception of the period from 1997 to 2000 in which U.S. stocks are more optimistically valued etc. Finally, it is observed that a convergence process is at work in both markets etc. |
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