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| Author: | Hussain, S. |
| Title: | Over-reaction by security market analysts: the impact of broker status and firm size |
| Journal: | Journal of Business Finance and Accounting
1996 : DEC, VOL. 23:9/10, p. 1223-1244 |
| Index terms: | ACCOUNTING EARNINGS FORECASTING |
| Language: | eng |
| Abstract: | The aim of this study is to provide an examination of short-term earnings forecasts for evidence of systematic over-reaction. Analysts' predicted changes in earnings are compared with the realised changes to identify the contribution of systematic error (bias and generalised over-reaction) to the mean square error. A second analysis investigates whether analysts' over-react to prior earnings changes. For both analyses, the impact of firm size and analysts' broker status are investigated. |
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