Financial Analyst Characteristics and Accuracy in EPS Forecasting
來源
管理學報
作者
Sheng-Yung Yang ； De-Wai Chou ； Shuh-Chyi Doong ； Hung-Wai Lin
年份
2007
資料性質
英文
出版者
社團法人中華民國管理科學學會
出版地
台北
冊數
24卷4期
頁數
P469 - 484
相關連結
簡介
Based on the financial data of firms listed in Taiwan Stock Exchange and EPS forecasts from security companies for the listed firms, we explore the effects of analyst characteristics on the accuracy of earnings forecasts, and then discuss if these effects would generate different outcomes under different market environment, nationality of analysts, and industry attributes. The empirical results show that analyst characteristics proposed are important factors to explain the variations of EPS forecast accuracy. Also, the empirical results can make investors in the market clearer about under which circumstances and factors analysts' earnings forecasts would be more accurate so as to avoid making undesirable investment decisions due to incorrect data of earnings forecasts.
