Three Essays in Financial Economics

In the last chapter, the 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 exhibit a significant pessimism bias. Evidence is provided that indicates the source of earnings forecast biases is management pressure to deflate forecasts, consistent with recent work on earnings forecast management.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Finance

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2015

Author dc:creator

• Marks, Joseph M.

Contributors dc:contributor

• Neil Pearson

• Economics, Finance

Language dc:language

eng

Identifier

(MiAaPQ)AAI3182325

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/87432