| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7656 |
| DP7656 Understanding Analysts' Earnings Expectations: Biases, Nonlinearities and Predictability | |
| Henry Allan Timmermann; Marco Aiolfi; Marius Rodriguez | |
| 发表日期 | 2010-01-24 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper studies the asymmetric behavior of negative and positive values of analysts' earnings revisions and links it to the conservatism principle of accounting. Using a new three-state mixture of log-normals model that accounts for differences in the magnitude and persistence of positive, negative and zero revisions, we find evidence that revisions to analysts' earnings expectations can be predicted using publicly available information such as lagged interest rates and past revisions. We also find that our forecasts of revisions to analysts' earnings estimates help predict the actual earnings figure beyond the information contained in analysts' earnings expectations. |
| 主题 | Financial Economics |
| 关键词 | Analysts' earnings forecasts Mixture model Predictability of forecast revisions |
| URL | https://cepr.org/publications/dp7656 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536493 |
| 推荐引用方式 GB/T 7714 | Henry Allan Timmermann,Marco Aiolfi,Marius Rodriguez. DP7656 Understanding Analysts' Earnings Expectations: Biases, Nonlinearities and Predictability. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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