Earning Forecast-Based Return Predictions: Risk Proxies in Disguise?

2007 ◽  
pp. 141-161
Author(s):  
Le (Emily) Xu
Keyword(s):  
Earning Forecast

Analyst sentiment and earning forecast bias in financial markets

2021 ◽  
pp. 126601
Author(s):  
Xiong-Fei Jiang ◽  
Long Xiong ◽  
Tao Cen ◽  
Ling Bai ◽  
Na Zhao ◽  
...  
Keyword(s):  
Financial Markets ◽  
Earning Forecast ◽  
Forecast Bias

Earning Forecast Error in US and European Stock Markets

2007 ◽  
Vol 13 (2) ◽  
pp. 105-122 ◽  
Author(s):  
Michele Bagella ◽  
Leonardo Becchetti ◽  
Rocco Ciciretti
Keyword(s):  
Stock Markets ◽  
Forecast Error ◽  
Earning Forecast ◽  
European Stock Markets

scholarly journals The association between corporate governance and corporate disclosure: A critical review

2013 ◽  
Vol 3 (3) ◽  
pp. 94 ◽  
Author(s):  
Mohamed Aboelhamd Omran ◽  
Marwa Abdelrazik
Keyword(s):  
Corporate Governance ◽  
Critical Review ◽  
Audit Quality ◽  
Internal Audit ◽  
Future Research ◽  
Corporate Disclosure ◽  
Earning Forecast ◽  
Internal Governance ◽  
Audit Firm ◽  
The Relationship

This study provides a critical review of different techniques used in recent accounting literature to investigate the association between corporate governance and corporate disclosure. Therefore, the main purpose of this study is to help future researchers to identify examples and to select suitable practices or to develop their own ones. It also provides contest of current issues related to the relationship between corporate disclosure and corporate governance and identifies gaps in the current literature that future research may aim to cover. The study examines 34 articles published during the 2007-2013 period. The review of these articles concludes that most of these published studies examined the association between corporate disclosure and one or more of board of directors, ownership construction and audit firm. The current study suggests that researchers can also examine the association between internal audit quality as an internal governance and corporate disclosure. The study reveals that researchers used a disclosure index and content analysis to measure corporate disclosure. However, other techniques can be applied as management earning forecast and the number of analysts.

scholarly journals Asymmetric Information: Tinjauan Berdasarkan Rekomendasi Analis Sekuritas dan Revisi Earning Forecast

2020 ◽  
Vol 4 (1) ◽  
pp. 88
Author(s):  
Cicilia Erna Susilawati
Keyword(s):  
Asymmetric Information ◽  
Capital Market ◽  
Stock Price ◽  
Earnings Forecast ◽  
Market Participant ◽  
Earning Forecast ◽  
Asymmetry Of Information ◽  
Securities Analysts ◽  
Forecast Revision

Trading in the stock market occur due to differences in opinion on the expected value of the securities. In the other side, asymmetric information between investors and companies caused the stock price does not reflect the real price. So, asymmetric information should be reduced. Information by securities analysts is an information that is expected to reduce that. This study investigates the performance of securities analysts through its role in reducing asymmetric information. This is motivated by some previous studies that stated that the Indonesian capital market is inefficient, because high levels of asymmetric information. Analysts is considered as inform market participant who can reduce the asymmetric information so as to make capital market to be efficient. The role of securities analysts is seen through the product. There are stock recommendation and earnings forecast revision. Testing the consistency of the analyst's stock recommendations and earnings forecast revision before testing their impact on asymmetric information. The results showed that output in the form of stock securities analysts and earnings forecast recommendation are consistent but has not been able to reduce the asymmetry of information that occurs between investors and companies.

scholarly journals THE DETERMINANTS OF MANAGEMENT FORECASTS ERROR AND THE IPO UNDERPRICING: A CASE STUDY OF INDONESIAN IPO

2011 ◽  
Vol 3 (2) ◽  
pp. 136-152
Author(s):  
Yanthi Hutagaol ◽  
Florens Siauw ◽  
Irwan A. Ekaputra
Keyword(s):  
Information Asymmetry ◽  
Stock Exchange ◽  
Market Condition ◽  
Forecast Errors ◽  
Management Forecasts ◽  
Ipo Underpricing ◽  
Earning Forecast ◽  
Expected Earnings ◽  
Forecast Interval

To reduce the well-known information asymmetry in the IPO market, the issuing firms are required to publish offering prospectuses. One type of information disclosed in the prospectus is the management financial forecasts in which the IPO firms predict expected earnings at the end of year after the listing. The purpose of this study is to investigate the determinants of forecasted error published by the management in the IPO prospectuses. This study observes six possible determinants that affect the absolute forecast errors (AFE). Furthermore, this study also examines whether the earning forecast errors could explain the IPO stylish underpricing phenomenon.A sample of 124 IPO firms that went public in Indonesian Stock Exchange (prior Jakarta Stock Exchange) during the 1997 – 2005 period. The results show that the research models proposed are valid models. The management AFE is determined by firm size, forecast interval period, industry, and the firm business range.  This study also finds that the AFE is positively related to the IPO underpricing, suggesting that the higher the forecast errors, the more underpriced is the IPO. Moreover, it is also found that market condition also influences the underpricing level in Indonesian IPO market.

scholarly journals The Accuracy of Earning Forecast Analysis, Information Asymmetry and Integrated Reporting – Case of Indonesia

2017 ◽  
Vol 4 (1) ◽  
pp. 19-32
Author(s):  
Novita Indrawati
Keyword(s):  
Information Asymmetry ◽  
Annual Report ◽  
Stock Exchange ◽  
Annual Reports ◽  
Earnings Forecast ◽  
Integrated Reporting ◽  
Earning Forecast ◽  
Factors Affecting ◽  
Asymmetry Of Information ◽  
Industry Type

The purpose of this study is to examine factors that affect companies presents the elements of integrated reporting in their annual reports and how its effect on the accuracy of earnings forecast analysis and information asymmetry. The independent variables tested were institutional ownership, company size, profitability, international activities, and industry type and growth opportunity. The study population is non-financial companies listed on the Indonesia Stock Exchange in 2015. The samples were taken by using purposive sampling i.e. with some specific criteria. The data was analysed by using multiple regression analysis to examine the factors affecting the company presents the elements of integrated reporting in the annual report, and a simple regression to see how the presentation of the elements of integrated reporting affect the asymmetry of information and the accuracy of earnings forecast analysis. This study found that only the size of the companies determines the presentation of the elements ofintegrated reporting in the annual report. In addition, this study does not confirm the effect of the presentation of the elements of integrated reporting on the information asymmetry and the earnings forecast analysis accuracy.

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