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| Author: | Brown, L.D. |
| Title: | How important is past analyst forecast accuracy? |
| Journal: | Financial Analysts' Journal
2001 : NOV/DEC, VOL. 57:6, p. 44-49 |
| Index terms: | EARNINGS FINANCIAL FORECASTING |
| Freeterms: | ANALYSTS |
| Language: | eng |
| Abstract: | The Wall Street Journal rates analysts on the basis of past earnings forecast accuracy. An alternative way to assess the likelihood of "more" or "less" accurate forecasts in the future is to model the analyst characteristics related to the accuracy of individual analysts' earnings forecasts. No evidence yet exists, however, as to whether an analyst characteristics model is better than a past accuracy model for distinguishing more accurate from less accurate earnings forecasters. The authors shows that a simple model of past accuracy performs as well for this purpose as a more complex model based on analyst characteristics. |
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