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| Author: | Cho, J. |
| Title: | Properties of market expectations of accounting earnings by financial analysts: UK versus US |
| Journal: | Accounting and Business Research
1994 : SUMMER, VOL. 24:95, p. 230-240 |
| Index terms: | ACCOUNTING EARNINGS USA UNITED KINGDOM |
| Language: | eng |
| Abstract: | This paper compares patterns and properties of financial analysts' forecasts (FAFs) of earnings between the UK and the US. Using 299 UK and 400 US firms from the same data source - Institutional Brokers Estimate System tapes - the accuracy of forecasts is examined and the sources of errors analysed. The results reveal that FAFs firm size and industry effects. Further, FAFs of US firms demonstrate consistent overestimation of earnings over the sample period 1988-1990, while UK firms show overestimation in only one of three years. |
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