An international comparison of analysis' earnings forecast accuracy
β Scribed by Michael Firth; Michael Gift
- Book ID
- 105529374
- Publisher
- Springer US
- Year
- 1999
- Tongue
- English
- Weight
- 719 KB
- Volume
- 5
- Category
- Article
- ISSN
- 1083-0898
No coin nor oath required. For personal study only.
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This paper provides information on the long-term predictive ability of annual earnings numbers. We obtained a sample of 486 calendar, yearend firms that had complete quarterly earnings-per-share (eps) before extraordinary items available from 1978 to 1998. Firm-specific, quarterly, autoregressive-in
## Abstract This paper identifies and analyses previously published studies on annual earnings forecasts. Comparisons of forecasts produced by management, analysts, and extrapolative techniques indicated that: (1) management forecasts were superior to professional analyst forecasts (the mean absolu