메뉴 건너뛰기




Volumn 14, Issue 1, 2005, Pages 1-22

Trends in analyst earnings forecast properties

Author keywords

Analysts; Earnings forecasts; Earnings management; Forecast accuracy; Forecast dispersion

Indexed keywords


EID: 11444252107     PISSN: 10575219     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.irfa.2004.06.001     Document Type: Article
Times cited : (18)

References (45)
  • 1
    • 84977733335 scopus 로고
    • Tests of analysts' overreaction/underreaction to earnings information as an explanation for anomalous stock price behavior
    • Abarbanell J. Bernard V. Tests of analysts' overreaction/underreaction to earnings information as an explanation for anomalous stock price behavior Journal of Finance 47 1992 1181-1208
    • (1992) Journal of Finance , vol.47 , pp. 1181-1208
    • Abarbanell, J.1    Bernard, V.2
  • 2
    • 0003868909 scopus 로고    scopus 로고
    • Differences in commercial database reported earnings: Implications for inferences concerning analyst forecast rationality, the association between prices and earnings, and firm reporting discretion
    • Working paper, University of North Carolina at Chapel Hill
    • Abarbanell J. Lehavy R. (2000). Differences in commercial database reported earnings: Implications for inferences concerning analyst forecast rationality, the association between prices and earnings, and firm reporting discretion. Working paper, University of North Carolina at Chapel Hill.
    • (2000)
    • Abarbanell, J.1    Lehavy, R.2
  • 3
    • 11444261308 scopus 로고    scopus 로고
    • Analyst forecasts and stock returns
    • Working paper. University of New Hampshire
    • Ang J. Ciccone S. (2001). Analyst forecasts and stock returns. Working paper. University of New Hampshire.
    • (2001)
    • Ang, J.1    Ciccone, S.2
  • 4
    • 11444270731 scopus 로고    scopus 로고
    • Impact of information technology on post-earnings announcement drift
    • Asthana S. Impact of information technology on post-earnings announcement drift Journal of Information Systems 17 2003 1-17
    • (2003) Journal of Information Systems , vol.17 , pp. 1-17
    • Asthana, S.1
  • 5
    • 0002286246 scopus 로고
    • Predisclosure information, firm capitalization, and security price behavior around earnings announcements
    • Atiase R. Predisclosure information, firm capitalization, and security price behavior around earnings announcements Journal of Accounting Research 23 1985 21-36
    • (1985) Journal of Accounting Research , vol.23 , pp. 21-36
    • Atiase, R.1
  • 6
    • 0040884261 scopus 로고    scopus 로고
    • Can investors profit from the prophets? Security analyst recommendations and stock returns
    • Barber B. Lehavy R. McNichols M. Trueman B. Can investors profit from the prophets? Security analyst recommendations and stock returns Journal of Finance 56 2001 531-563
    • (2001) Journal of Finance , vol.56 , pp. 531-563
    • Barber, B.1    Lehavy, R.2    McNichols, M.3    Trueman, B.4
  • 7
    • 21344482133 scopus 로고
    • The timing of asset sales and earnings manipulation
    • Bartov E. The timing of asset sales and earnings manipulation Accounting Review 68 1993 840-855
    • (1993) Accounting Review , vol.68 , pp. 840-855
    • Bartov, E.1
  • 8
    • 0036004046 scopus 로고    scopus 로고
    • GAAP versus the street: An empirical assessment of two alternative definitions of earnings
    • Bradshaw M. Sloan R. GAAP versus the street: An empirical assessment of two alternative definitions of earnings Journal of Accounting Research 40 2002 41-65
    • (2002) Journal of Accounting Research , vol.40 , pp. 41-65
    • Bradshaw, M.1    Sloan, R.2
  • 9
    • 0003323223 scopus 로고    scopus 로고
    • Analyst forecasting errors: Additional evidence
    • Brown L. Analyst forecasting errors: Additional evidence Financial Analysts Journal 53 1997 81-88
    • (1997) Financial Analysts Journal , vol.53 , pp. 81-88
    • Brown, L.1
  • 10
    • 0035632845 scopus 로고    scopus 로고
    • A temporal analysis of earnings surprises: Profits versus losses
    • Brown L. A temporal analysis of earnings surprises: Profits versus losses Journal of Accounting Research 39 2001 221-241
    • (2001) Journal of Accounting Research , vol.39 , pp. 221-241
    • Brown, L.1
  • 12
    • 0002323772 scopus 로고    scopus 로고
    • Improving analysts' negative earnings forecasts
    • Butler K. Saraoglu H. Improving analysts' negative earnings forecasts Financial Analysts Journal 55 1999 48-56
    • (1999) Financial Analysts Journal , vol.55 , pp. 48-56
    • Butler, K.1    Saraoglu, H.2
  • 13
    • 11444251084 scopus 로고    scopus 로고
    • Analyst forecasts, financial distress, and business risk
    • Working paper. University of New Hampshire
    • Ciccone S. (2001). Analyst forecasts, financial distress, and business risk. Working paper. University of New Hampshire.
    • (2001)
    • Ciccone, S.1
  • 14
    • 0035380033 scopus 로고    scopus 로고
    • The earnings game: Everybody plays, nobody wins
    • Collingwood H. The earnings game: Everybody plays, nobody wins Harvard Business Review 79 2001 65-74
    • (2001) Harvard Business Review , vol.79 , pp. 65-74
    • Collingwood, H.1
  • 17
    • 0041669468 scopus 로고    scopus 로고
    • Differences of opinion and the cross-section of stock returns
    • Diether K. Malloy C. Scherbina A. Differences of opinion and the cross-section of stock returns Journal of Finance 57 2002 2113-2141
    • (2002) Journal of Finance , vol.57 , pp. 2113-2141
    • Diether, K.1    Malloy, C.2    Scherbina, A.3
  • 18
    • 0345131423 scopus 로고    scopus 로고
    • Dispersion in analyst forecasts and the profitability of earnings momentum strategies
    • Dische A. Dispersion in analyst forecasts and the profitability of earnings momentum strategies European Financial Management 8 2002 211-228
    • (2002) European Financial Management , vol.8 , pp. 211-228
    • Dische, A.1
  • 19
    • 0030639979 scopus 로고    scopus 로고
    • Analyst reaction to negative earnings for large well-known firms
    • Dowen R. Analyst reaction to negative earnings for large well-known firms Journal of Portfolio Management 23 1996 49-55
    • (1996) Journal of Portfolio Management , vol.23 , pp. 49-55
    • Dowen, R.1
  • 20
    • 0039044849 scopus 로고
    • Analyst forecasting errors and their implications for security analysis
    • Dreman D. Berry M. Analyst forecasting errors and their implications for security analysis Financial Analysts Journal 51 1995 30-41
    • (1995) Financial Analysts Journal , vol.51 , pp. 30-41
    • Dreman, D.1    Berry, M.2
  • 21
    • 0038850183 scopus 로고    scopus 로고
    • Inefficiency in analyst forecasts: Systematic misreaction or systematic optimism?
    • Easterwood J. Nutt S. Inefficiency in analyst forecasts: Systematic misreaction or systematic optimism? Journal of Finance 54 1999 1777-1797
    • (1999) Journal of Finance , vol.54 , pp. 1777-1797
    • Easterwood, J.1    Nutt, S.2
  • 22
    • 0002547276 scopus 로고    scopus 로고
    • Learn to play the earnings game (and wall street will love you)
    • March 31
    • Fox J. Learn to play the earnings game (and wall street will love you) Fortune 1997, March 31 76-80
    • (1997) Fortune , pp. 76-80
    • Fox, J.1
  • 23
    • 0001945560 scopus 로고
    • Financial analysts' forecasts of earnings: A better surrogate for market expectations
    • Fried D. Givoly D. Financial analysts' forecasts of earnings: A better surrogate for market expectations Journal of Accounting and Economics 4 1982 85-107
    • (1982) Journal of Accounting and Economics , vol.4 , pp. 85-107
    • Fried, D.1    Givoly, D.2
  • 24
    • 84937291540 scopus 로고
    • A theory of dividend smoothing based on incumbency rents
    • Fudenberg D. Tirole J. A theory of dividend smoothing based on incumbency rents Journal of Political Economy 103 1995 75-93
    • (1995) Journal of Political Economy , vol.103 , pp. 75-93
    • Fudenberg, D.1    Tirole, J.2
  • 26
    • 46549101724 scopus 로고
    • The effect of bonus schemes on accounting decisions
    • Healy P. The effect of bonus schemes on accounting decisions Journal of Accounting and Economics 7 1985 85-107
    • (1985) Journal of Accounting and Economics , vol.7 , pp. 85-107
    • Healy, P.1
  • 28
    • 0034372684 scopus 로고    scopus 로고
    • Security analysts' career concerns and herding of earnings forecasts
    • Hong H. Kubik J. Solomon A. Security analysts' career concerns and herding of earnings forecasts Rand Journal of Economics 31 2000 121-144
    • (2000) Rand Journal of Economics , vol.31 , pp. 121-144
    • Hong, H.1    Kubik, J.2    Solomon, A.3
  • 29
    • 0001402873 scopus 로고
    • The effect of ex-ante earnings uncertainty on earnings response coefficients
    • Imhoff E. Lobo G. The effect of ex-ante earnings uncertainty on earnings response coefficients Accounting Review 67 1992 427-439
    • (1992) Accounting Review , vol.67 , pp. 427-439
    • Imhoff, E.1    Lobo, G.2
  • 30
    • 0000261213 scopus 로고
    • To warn or not to warn: Management disclosures in the face of an earnings surprise
    • Kasznik R. Lev B. To warn or not to warn: Management disclosures in the face of an earnings surprise Accounting Review 70 1995 113-134
    • (1995) Accounting Review , vol.70 , pp. 113-134
    • Kasznik, R.1    Lev, B.2
  • 31
    • 0002982333 scopus 로고    scopus 로고
    • Information asymmetry, valuation, and the corporate spin-off decision
    • Krishnaswami S. Subramaniam V. Information asymmetry, valuation, and the corporate spin-off decision Journal of Financial Economics 53 1999 73-112
    • (1999) Journal of Financial Economics , vol.53 , pp. 73-112
    • Krishnaswami, S.1    Subramaniam, V.2
  • 32
    • 0035995637 scopus 로고    scopus 로고
    • Management's incentives to avoid negative earnings surprises
    • Matsumoto D. Management's incentives to avoid negative earnings surprises Accounting Review 77 2002 483-514
    • (2002) Accounting Review , vol.77 , pp. 483-514
    • Matsumoto, D.1
  • 34
    • 39149126416 scopus 로고
    • Analysts' forecasts as earnings expectations
    • O'Brien P. Analysts' forecasts as earnings expectations Journal of Accounting and Economics 10 1988 53-83
    • (1988) Journal of Accounting and Economics , vol.10 , pp. 53-83
    • O'Brien, P.1
  • 35
    • 0347714169 scopus 로고    scopus 로고
    • Implications of herding behavior for earnings estimation, risk assessment, and stock returns
    • Olsen R. Implications of herding behavior for earnings estimation, risk assessment, and stock returns Financial Analysts Journal 52 1996 37-41
    • (1996) Financial Analysts Journal , vol.52 , pp. 37-41
    • Olsen, R.1
  • 36
    • 0003494214 scopus 로고    scopus 로고
    • The walkdown to beatable analyst forecasts: The role of equity issuance and insider trading incentives
    • Working paper. University of Michigan
    • Richardson S. Teoh S. Wysocki P. (2001). The walkdown to beatable analyst forecasts: The role of equity issuance and insider trading incentives. Working paper. University of Michigan.
    • (2001)
    • Richardson, S.1    Teoh, S.2    Wysocki, P.3
  • 37
    • 21344476154 scopus 로고
    • Why firms voluntarily disclose bad news
    • Skinner D. Why firms voluntarily disclose bad news Journal of Accounting Research 32 1994 38-60
    • (1994) Journal of Accounting Research , vol.32 , pp. 38-60
    • Skinner, D.1
  • 38
    • 0031280675 scopus 로고    scopus 로고
    • Earnings disclosures and stockholder lawsuits
    • Skinner D. Earnings disclosures and stockholder lawsuits Journal of Accounting and Economics 23 1997 249-282
    • (1997) Journal of Accounting and Economics , vol.23 , pp. 249-282
    • Skinner, D.1
  • 39
    • 52649103582 scopus 로고    scopus 로고
    • Earnings surprises, growth expectations, and stock returns or don't let an earnings torpedo sink your portfolio
    • Skinner D. Sloan R. Earnings surprises, growth expectations, and stock returns or don't let an earnings torpedo sink your portfolio Review of Accounting Studies 7 2002 289-312
    • (2002) Review of Accounting Studies , vol.7 , pp. 289-312
    • Skinner, D.1    Sloan, R.2
  • 40
    • 0001555635 scopus 로고
    • Predicting individual analyst earnings forecasts
    • Stickel S. Predicting individual analyst earnings forecasts Journal of Accounting Research 28 1990 409-417
    • (1990) Journal of Accounting Research , vol.28 , pp. 409-417
    • Stickel, S.1
  • 41
    • 0002028716 scopus 로고
    • The anatomy of the performance of buy and sell recommendations
    • Stickel S. The anatomy of the performance of buy and sell recommendations Financial Analysts Journal 51 1995 25-39
    • (1995) Financial Analysts Journal , vol.51 , pp. 25-39
    • Stickel, S.1
  • 42
    • 4844228063 scopus 로고
    • Analyst forecasts and herding behavior
    • Trueman B. Analyst forecasts and herding behavior Review of Financial Studies 7 1994 97-124
    • (1994) Review of Financial Studies , vol.7 , pp. 97-124
    • Trueman, B.1
  • 44
    • 0002442267 scopus 로고    scopus 로고
    • Ho-Hum, another earnings surprise
    • May 29
    • Vickers M. Ho-Hum, another earnings surprise Business Week 1999, May 29 83-84
    • (1999) Business Week , pp. 83-84
    • Vickers, M.1
  • 45
    • 0034367589 scopus 로고    scopus 로고
    • Herding among security analysts
    • Welch I. Herding among security analysts Journal of Financial Economics 58 2000 369-396
    • (2000) Journal of Financial Economics , vol.58 , pp. 369-396
    • Welch, I.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.