haku: @author Paudyal, K. / yhteensä: 9
viite: 9 / 9
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| Tekijä: | Capstaff, J. Paudyal, K. Rees, W. |
| Otsikko: | The accuracy and rationality of earnings forecasts by UK analysts |
| Lehti: | Journal of Business Finance and Accounting
1995 : JAN, VOL. 22:1, p. 67-86 |
| Asiasana: | EARNINGS RATIONALITY BIAS |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the accuracy of UK analysts' forecasts corporate earnings and considers whether they are formed in a rational manner. The analysis is based on a large sample of individual forecasts of annual earnings for years ending in 1987 to 1991. The accuracy of the analysts' forecasts is initially assessed against a naive "no change" forecast of earnings. The results suggest that analysts generally provide more accurate forecasts than the naive model but errors are much larger when earnings decrease. |
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