Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 15 of 15 for “"Analyst forecasts"”.
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The Relationship between Analyst Forecasts, Investment Fund Flows and Market Returns = Elemzői előrejelzések, befektetési alapok pénzáramlása és a részvénypiaci hozamok kapcsolata. A feltörekvő európai részvénypiac vizsgálata
… in this dissertation and showed the value of analyst opinion and fund flow data in understanding returns through the example of Emerging European equity markets. With wider-spread availability of the analyst opinion and fund flow data, we hope more academic research would cover the …
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Determinants and Consequences of Earnings Disclosure Readability
… pessimism, and meeting/beating or missing analyst forecasts have had an impact on earnings disclosure readability over the 1997-2007 timeframe and whether firm managers are able to make negative firm financial information less transparent to the market by making negative earnings …
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Three Essays in Financial Economics
… quality of information produced by investment analysts is studied. In particular, newly available analyst forecasts of revenue per share are examined to assess accuracy and potential biases. Revenue forecasts are shown to be terminally unbiased, while earnings forecasts during the same period …
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Analyst Incentives
Analyst forecasts have been shown to reflect substantial behavioral biases and predict a number of macroeconomic phenomena. While we typically treat reported forecasts as statistical expectations, under uncertainty the reported point estimate will be sensitive to the payoff structure facing the …
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The Benefits of Mandatory Disclosure: Evidence from Regulation S-X Article 11
… disclosure, I test whether pro formas improve analyst forecasts or mitigate incentive alignment problems. Using a fuzzy regression discontinuity design, I provide evidence that pro formas reduce post-acquisition forecast errors and improve target selection. The improvement in forecast accuracy …
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Whose Beliefs Matter for Firm Investment?
… I relate firm investment rates to managerial and analyst expectations of future earnings per unit of capital, measured respectively from management earnings guidance announcements and contemporaneous consensus equity analyst forecasts. Although manager beliefs are more accurate predictors of …
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The First Sign: Detecting Future Financial Fraud from the IPO Prospectus
… more likely to manage earnings to meet/beat analyst forecasts, firms who experience higher levels of information asymmetry around earnings announcements within the five years following the IPO, and has some predictive ability over future abnormal returns. </p>
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The nature, causes and consequences of financial analysts’ forecasts in the UK
… nature, reasons and consequences of financial analysts’ forecasts in London Stock Exchange. The first empirical chapter examines the rationality and accuracy of financial analysts’ forecasts. Results show that analyst forecasts are overall optimistic, but not as extreme as the literature …
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A statistical analysis of the natural gas futures market : the interplay of sentiment, volatility and prices
… natural gas in inventory and how accurate are analysts at forecasting the inventory level. Commodity prices are volatile, and volatility itself varies over time. I examine the role of volatility in shortrun natural gas market dynamics and the determinants of error in inventory estimates leading …
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Essays in Household and Behavioral Finance
… chapter studies the properties of subjective forecasts relative to econometric forecasts at different forecast horizons. In the context of corporate earnings forecasts, we find that sell-side equity analyst forecasts outperform econometric forecasts in the short run but underperform in the …
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The Effect of Earnings Quality on Analyst Forecast Accuracy, Dispersion, and Optimism and Implications for CEO Compensation
… statement users; specifically financial analysts and CEO compensation setters. The first essay investigates the impact of earnings quality on earnings forecast accuracy, forecast dispersion, and forecast optimism of individual financial analysts. The primary model employed for analyst …
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Essays on corporate governance and investor disagreement
… profits during weaker industry conditions. Analyst forecasts indicate that the pattern is expected, suggesting that the higher valuations of well-governed firms are due to this higher expected productivity in good times. Consistent with such expectations and with an updating of valuations as …
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An Empirical Investigation of the Effects of Earnings Predictability and Auditor-Client Relationships on the Bond Credit Market
… (1) the annual earnings surprise (actual minus analyst forecast) and (2) the dispersion of initial analyst forecasts. The results indicate a negative association between a lack of earnings predictability and both bond ratings and initial bond price. The results are consistent with creditors …
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Climate change information and analyst expectations
This study examines whether analysts facilitate the processing and impounding of climate information into financial expectations. Using survey data from CDP (formerly the Carbon Disclosure Project) about firms’ self-identified climate-related risks along with over 1 million analyst reports from …
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Determinants of Intellectual Capital Disclosure and its Impacts on Audit Effort and Analyst Forecast Accuracy: UK Evidence
… to outside directors, auditors, and sell-side analysts respectively. The specific objectives of this thesis are to examine whether outside directors’ expertise is a determinant of IC disclosure; and the extent to which the disclosure of IC information impacts on audit effort and analysts’ …