How Important Is Past Analyst Forecast Accuracy?

By Lawrence D. Brown. 2001

161 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/62572b7ccd93e2dd0d5da25c3762b5432f43217c

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

In Strategy and Management

Citations in the corpus

Buys, Holds, and Sells: The Distribution of Investment Banks' Stock Ratings and the Implications for the Profitability of Analysts' Recommendations (2006, background): “…with strong buys and sells with strong sells in our analysis because (i) NASD 27118 requires brokers to categorize recommendations as either buy, hold, or sell and (ii) some brokers are now using just these three ratings, dropping the distinction between buy and strong buy and sell and strong sell.”
Using earnings conference calls to identify analysts with superior private information (2013, background): “If, for example, analysts with higher prior forecast accuracy are more likely to select into conference call participation (Mayew 2008) and have more accurate future earnings forecasts (Brown 2001), observing a positive association between conference call participation and more accurate annual earni”
Audit Quality and Properties of Analyst Earnings Forecasts (2008, background): “Brown et al. (1987) claim that the accuracy of an earnings forecast depends on the difficulty or complexity of the forecasting task.”
Are analysts’ earnings forecasts more accurate when accompanied by cash flow forecasts? (2009, background): “14 The results are unchanged when DTOP10 is mean-adjusted. earnings forecast accuracy is a determinant of current earnings forecast accuracy (Brown 2001) and that analysts are more likely to issue cash flow forecasts for a firm if their prior earnings forecast is relatively less accurate for that…”