메뉴 건너뛰기




Volumn 28, Issue 5-6, 2001, Pages 531-562

A comparative analysis of earnings forecasts in Europe

Author keywords

[No Author keywords available]

Indexed keywords


EID: 3242884839     PISSN: 0306686X     EISSN: 14685957     Source Type: Journal    
DOI: 10.1111/1468-5957.00384     Document Type: Article
Times cited : (49)

References (46)
  • 1
    • 0000790309 scopus 로고
    • Do analysts' Earnings forecasts incorporate information in prior stock price changes
    • Abarbanell, J.S. (1991), Do Analysts' Earnings Forecasts Incorporate Information in Prior Stock Price Changes', Journal of Accounting and Economics, Vol 14, pp. 147-66.
    • (1991) Journal of Accounting and Economics , vol.14 , pp. 147-166
    • Abarbanell, J.S.1
  • 2
    • 84977733335 scopus 로고
    • Tests of analysts' overreaction/underreaction to earnings information as an explanation for anomalous stock price behaviour
    • - and V.L. Bernard (1992), Tests of Analysts' Overreaction/Underreaction to Earnings Information as an Explanation for Anomalous Stock Price Behaviour', Journal of Finance, pp. 1181-207.
    • (1992) Journal of Finance , pp. 1181-1207
    • Bernard, V.L.1
  • 3
    • 0003373103 scopus 로고
    • Analysts' use of information about permanent and transitory earnings components in forecasting annual EPS
    • Ali, A., A. Klein and J. Rosenfeld (1992), Analysts' Use of Information about Permanent and Transitory Earnings Components in Forecasting Annual EPS', Accounting Review, pp. 183-98.
    • (1992) Accounting Review , pp. 183-198
    • Ali, A.1    Klein, A.2    Rosenfeld, J.3
  • 4
    • 21344476134 scopus 로고
    • The relative informativeness of accounting disclosure in different countries
    • Alford, A., J. Jones, R. Leftwich and M. Zmijewski (1993), The Relative Informativeness of Accounting Disclosure in Different Countries', Journal of Accounting Research, Vol. 31 (Supplement), pp. 183-223.
    • (1993) Journal of Accounting Research , vol.31 , Issue.SUPPL. , pp. 183-223
    • Alford, A.1    Jones, J.2    Leftwich, R.3    Zmijewski, M.4
  • 5
    • 84953490635 scopus 로고
    • A survey of the methods used by UK investment analysts to appraise investments in ordinary shares
    • Arnold, J. and P. Moizer (1984), A Survey of the Methods Used by UK Investment Analysts to Appraise Investments in Ordinary Shares', Accounting and Business Research, Vol. 14, pp 195-207.
    • (1984) Accounting and Business Research , vol.14 , pp. 195-207
    • Arnold, J.1    Moizer, P.2
  • 6
    • 0000952293 scopus 로고
    • Segment earnings disclosure and the ability of security analysts to forecast earnings per share
    • Baldwin, B. (1984), Segment Earnings Disclosure and the Ability of Security Analysts to Forecast Earnings Per Share', Accounting Review (July), pp. 376-89.
    • (1984) Accounting Review , Issue.JULY , pp. 376-389
    • Baldwin, B.1
  • 7
    • 0002206334 scopus 로고    scopus 로고
    • The market for information-evidence from finance directors, analysts and fund managers
    • Barker, R.G. (1998), The Market for Information-Evidence from Finance Directors, Analysts and Fund Managers', Accounting and Business Research, Vol. 29, No. 1, pp. 3-20.
    • (1998) Accounting and Business Research , vol.29 , Issue.1 , pp. 3-20
    • Barker, R.G.1
  • 8
    • 77951895261 scopus 로고    scopus 로고
    • International variation in accounting measurement rules and analysts' Earnings Forecast Errors
    • (University of New York)
    • Basu, S., L. Hwang and C. Jan (1996), International Variation in Accounting Measurement Rules and Analysts' Earnings Forecast Errors', Working Paper (University of New York).
    • (1996) Working Paper
    • Basu, S.1    Hwang, L.2    Jan, C.3
  • 9
    • 84963444206 scopus 로고
    • The accuracy of brokers' Profit Forecasts in the UK
    • Bhaskar, K.N. and R.C. Morris (1984), The Accuracy of Brokers' Profit Forecasts in the UK', Accounting and Business Research (Spring), pp. 113-24.
    • (1984) Accounting and Business Research , Issue.SPRING , pp. 113-124
    • Bhaskar, K.N.1    Morris, R.C.2
  • 10
    • 0001035967 scopus 로고
    • Collection of information about publicly traded firms: Theory and Evidence
    • Bhushan, R. (1989a), Collection of Information About Publicly Traded Firms: Theory and Evidence', Journal of Accounting and Economics, Vol. 11, pp. 183-206.
    • (1989) Journal of Accounting and Economics , vol.11 , pp. 183-206
    • Bhushan, R.1
  • 11
    • 0010697284 scopus 로고
    • Firm characteristics and analyst following
    • - (1989b), Firm Characteristics and Analyst Following', Journal of Accounting and Economics, Vol. 11, pp. 255-74.
    • (1989) Journal of Accounting and Economics , vol.11 , pp. 255-274
  • 12
    • 0000337650 scopus 로고
    • Earnings forecasting research: Its implications for capital market research
    • Brown L. D. (1993), Earnings Forecasting Research: Its Implications for Capital Market Research', International Journal of Forecasting, Vol. 9, pp. 295-320.
    • (1993) International Journal of Forecasting , vol.9 , pp. 295-320
    • Brown, L.D.1
  • 13
    • 0002939457 scopus 로고    scopus 로고
    • Analyst forecasting errors and their implications for security analysis: An alternative perspective
    • February
    • - (1996), Analyst Forecasting Errors and their Implications for Security Analysis: An Alternative Perspective, ' Financial Analysts Journal, Vol. 52, No. 1 (January-February), pp. 40-47.
    • (1996) Financial Analysts Journal , vol.52 , Issue.1 JANUARY , pp. 40-47
  • 14
    • 0002004949 scopus 로고
    • Analysts can forecast accurately!
    • - and M.S. Rozeff (1980), Analysts Can Forecast Accurately!', Journal of Portfolio Management, Vol. 6, pp. 31-34.
    • (1980) Journal of Portfolio Management , vol.6 , pp. 31-34
    • Rozeff, M.S.1
  • 15
    • 45949121023 scopus 로고
    • Security analyst superiority relative to univariate time-series models in forecasting quarterly earnings
    • - R.A. Hagerman, P.A. Griffin and M.E. Zmijewski (1987), Security Analyst Superiority Relative to Univariate Time-Series Models in Forecasting Quarterly Earnings', Journal of Accounting and Economics, pp. 61-87.
    • (1987) Journal of Accounting and Economics , pp. 61-87
    • Hagerman, R.A.1    Griffin, P.A.2    Zmijewski, M.E.3
  • 17
    • 85006310242 scopus 로고
    • The accuracy and rationality of earnings forecasts by UK analysts
    • Capstaff, J., K. Paudyal and W. Rees (1995), The Accuracy and Rationality of Earnings Forecasts by UK Analysts', Journal of Business Finance & Accounting, Vol. 22, No. 1 (January), pp. 69-87.
    • (1995) Journal of Business Finance & Accounting , vol.22 , Issue.1 JANUARY , pp. 69-87
    • Capstaff, J.1    Paudyal, K.2    Rees, W.3
  • 18
    • 0007886836 scopus 로고    scopus 로고
    • Analysts' forecasts of German firms' earnings: A comparative analysis
    • - (1998), Analysts' Forecasts of German Firms' Earnings: A Comparative Analysis', Journal of International Financial Management and Accounting, Vol. 9, No. 2, pp. 83-116.
    • (1998) Journal of International Financial Management and Accounting , vol.9 , Issue.2 , pp. 83-116
  • 20
    • 0001567301 scopus 로고
    • A multivariate analysis of annual earnings generated from quarterly forecasts of financial analysts and univariate time-series methods
    • Collins, W.A. and W.S. Hopwood (1980), A Multivariate Analysis of Annual Earnings Generated from Quarterly Forecasts of Financial Analysts and Univariate Time-Series Methods', Journal of Accounting Research, pp. 390-406.
    • (1980) Journal of Accounting Research , pp. 390-406
    • Collins, W.A.1    Hopwood, W.S.2
  • 21
    • 8744258405 scopus 로고    scopus 로고
    • Investor psychology and security market under-and over-reactions
    • Daniel, K., D. Hirshleifer and A. Subrahmanyam (1998), Investor Psychology and Security Market Under- and Over-reactions', Journal of Finance, Vol. 53, No. 6, pp. 1839-85.
    • (1998) Journal of Finance , vol.53 , Issue.6 , pp. 1839-1885
    • Daniel, K.1    Hirshleifer, D.2    Subrahmanyam, A.3
  • 22
    • 0032220238 scopus 로고    scopus 로고
    • Earnings predictability and bias in analysts' Earnings Forecasts
    • Das, S., C.B. Levine and K. Sivaramakrishnan (1998), Earnings Predictability and Bias in Analysts' Earnings Forecasts', The Accounting Review, Vol. 73, No. 2, pp. 277-94.
    • (1998) The Accounting Review , vol.73 , Issue.2 , pp. 277-294
    • Das, S.1    Levine, C.B.2    Sivaramakrishnan, K.3
  • 23
    • 0002362477 scopus 로고
    • The use of annual reports by U.K. investment analysts
    • Day, J.F.S. (1986), The Use of Annual Reports by U.K. Investment Analysts', Accounting and Business Research, Vol. 16, pp. 295-307.
    • (1986) Accounting and Business Research , vol.16 , pp. 295-307
    • Day, J.F.S.1
  • 25
    • 0030639979 scopus 로고    scopus 로고
    • Analyst reaction to negative earnings for large well- known firms
    • Dowan, R.J. (1996), Analyst Reaction to Negative Earnings for Large Well- Known Firms', The Journal of Portfolio Management (Fall), pp. 49-55.
    • (1996) The Journal of Portfolio Management , Issue.FALL , pp. 49-55
    • Dowan, R.J.1
  • 26
    • 0039044849 scopus 로고
    • Analyst forecasting errors and their implications for security analysis
    • (June)
    • Dreman, D. and M. Berry (1995), Analyst Forecasting Errors and Their Implications for Security Analysis', Financial Analysts Journal, Vol. 51, No. 3 (May/June), pp. 30-41.
    • (1995) Financial Analysts Journal , vol.51 , Issue.3 MAY , pp. 30-41
    • Dreman, D.1    Berry, M.2
  • 27
    • 84984198819 scopus 로고
    • The effect of investment banking relationships on financial analysts' earnings forecasts and investment recommendations
    • Dugar, A. and S. Nathan (1995), The Effect of Investment Banking Relationships on Financial Analysts' Earnings Forecasts and Investment Recommendations', Contemporary Accounting Research, Vol. 12, pp. 131-60.
    • (1995) Contemporary Accounting Research , vol.12 , pp. 131-160
    • Dugar, A.1    Nathan, S.2
  • 28
    • 0038850183 scopus 로고    scopus 로고
    • Inefficiency in analysts' Earnings Forecasts: Systematic misreaction or systematic optimism?
    • Easterwood, J.C. and S.R. Nutt (1999), Inefficiency in Analysts' Earnings Forecasts: Systematic Misreaction or Systematic Optimism?', Journal of Finance, Vol. 56, No. 5, pp. 1777-97.
    • (1999) Journal of Finance , vol.56 , Issue.5 , pp. 1777-1797
    • Easterwood, J.C.1    Nutt, S.R.2
  • 29
    • 21344493717 scopus 로고
    • Analysts' decisions as products of multi-task environment
    • Francis, J. and D. Philbrick (1993), Analysts' Decisions as Products of Multi-Task Environment', Journal of Accounting Research, Vol. 31, pp. 216-30.
    • (1993) Journal of Accounting Research , vol.31 , pp. 216-230
    • Francis, J.1    Philbrick, D.2
  • 30
    • 0000960406 scopus 로고
    • Properties of analysts' Forecasts of Earnings: A review and analysis
    • Givoly, D. and J. Lakonishok (1984), Properties of Analysts' Forecasts of Earnings: A Review and Analysis', Journal of Accounting Literature, pp. 117-52.
    • (1984) Journal of Accounting Literature , pp. 117-152
    • Givoly, D.1    Lakonishok, J.2
  • 31
    • 0042714590 scopus 로고
    • The potential gains in predictive ability through disaggregation: Segmented annual earnings
    • Hopwood, W., P. Newbold and P. Silhan (1982), The Potential Gains in Predictive Ability Through Disaggregation: Segmented Annual Earnings', Journal of Accounting Research, Vol. 20, No. 2, pp. 724-32.
    • (1982) Journal of Accounting Research , vol.20 , Issue.2 , pp. 724-732
    • Hopwood, W.1    Newbold2    Silhan, P.3
  • 32
    • 33645667009 scopus 로고    scopus 로고
    • Over-reaction by security market analysts: The impact of broker status and firm size
    • Hussain, S. (1996), Over-Reaction by Security Market Analysts: the Impact of Broker Status and Firm Size', Journal of Business Finance & Accounting, Vol. 23, Nos. 9 & 10 (December), pp. 1223-44.
    • (1996) Journal of Business Finance & Accounting , vol.23 , Issue.9-10 DECEMBER , pp. 1223-1244
    • Hussain, S.1
  • 33
    • 58149417364 scopus 로고
    • On the psychology of prediction
    • Kahneman, D. and A. Tversky (1973), On the Psychology of Prediction', Psychological Review, Vol. 80, No. 4, pp. 237-51.
    • (1973) Psychological Review , vol.80 , Issue.4 , pp. 237-251
    • Kahneman, D.1    Tversky, A.2
  • 34
    • 38249018660 scopus 로고
    • A direct test of the cognitive bias theory of share price reversals
    • Klein, A. (1990), A Direct Test of the Cognitive Bias Theory of Share Price Reversals', Journal of Accounting and Economics, pp. 155-66.
    • (1990) Journal of Accounting and Economics , pp. 155-166
    • Klein, A.1
  • 35
    • 0001359951 scopus 로고
    • Earnings expectations: The analysts' information advantage
    • Kross, W., B. Ho and D. Schroeder (1990), Earnings Expectations: The Analysts' Information Advantage', Accounting Review, Vol. 65, pp. 461-76.
    • (1990) Accounting Review , vol.65 , pp. 461-476
    • Kross, W.1    Ho, B.2    Schroeder, D.3
  • 36
    • 0030305317 scopus 로고    scopus 로고
    • Corporate disclosure policy and analysts behavior
    • Lang M. and R. Lundholm (1996), Corporate Disclosure Policy and Analysts Behavior', The Accounting Review, Vol. 71, No. 4, pp. 467-92.
    • (1996) The Accounting Review , vol.71 , Issue.4 , pp. 467-492
    • Lang, M.1    Lundholm, R.2
  • 37
    • 77951914172 scopus 로고    scopus 로고
    • Un AnaÂlysis EmpõÂrico de los PronoÂsticos de los Analistas Financieros en el Caso EspanÄ ol
    • (University of CaÂdiz)
    • LarraÂn, J.M. and W. Rees (1996), Un AnaÂlysis EmpõÂrico de los PronoÂsticos de los Analistas Financieros en el Caso EspanÄ ol', Working Paper (University of CaÂdiz).
    • (1996) Working Paper
    • LarraÂn, J.M.1    Rees, W.2
  • 38
    • 0001199687 scopus 로고
    • Industry averages as targets for financial ratios
    • Lev, B. (1969), Industry Averages as Targets for Financial Ratios', Journal of Accounting Research, Vol. 7, No. 2, pp. 290-99.
    • (1969) Journal of Accounting Research , vol.7 , Issue.2 , pp. 290-299
    • Lev, B.1
  • 41
    • 0000070375 scopus 로고
    • Financial statement analysis and the prediction of stock returns
    • Ou, J.A. and S.H. Penman (1989), Financial Statement Analysis and the Prediction of Stock Returns', Journal of Accounting and Economics, pp. 295-330.
    • (1989) Journal of Accounting and Economics , pp. 295-330
    • Ou, J.A.1    Penman, S.H.2
  • 42
    • 0009633492 scopus 로고
    • UK analysts' earnings forecasts
    • Patz, D.H. (1989), UK Analysts' Earnings Forecasts', Accounting and Business Research (Summer), pp. 267-75.
    • (1989) Accounting and Business Research , Issue.SUMMER , pp. 267-275
    • Patz, D.H.1
  • 43
    • 0000579752 scopus 로고
    • The appraisal of ordinary shares by investment analysts in the UK and Germany
    • Pike R., J. Meerjanssen and L. Chadwick (1993), The Appraisal of Ordinary Shares by Investment Analysts in the UK and Germany', Accounting and Business Research (Autumn), pp. 489-99.
    • (1993) Accounting and Business Research , Issue.AUTUMN , pp. 489-499
    • Pike, R.1    Meerjanssen, J.2    Chadwick, L.3
  • 44
    • 77951931609 scopus 로고    scopus 로고
    • A valuation based test of accounting differences in Europe
    • (University of Glasgow)
    • Rees W. (1998), A Valuation Based Test of Accounting Differences in Europe', Working Paper (University of Glasgow).
    • (1998) Working Paper
    • Rees, W.1
  • 46
    • 0010767947 scopus 로고
    • The use and perceived importance of annual reports by investment analysts in the Netherlands
    • Vergossen, R. (1993), The Use and Perceived Importance of Annual Reports by Investment Analysts in the Netherlands', European Accounting Review (September), pp. 219-44.
    • (1993) European Accounting Review , Issue.SEPTEMBER , pp. 219-244
    • Vergossen, R.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.