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An Evaluation Of Analyst Forecasts For Hong Kong Firms
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Book Synopsis An Evaluation of Analyst Forecasts for Hong Kong Firms by : Bikki Jaggi
Download or read book An Evaluation of Analyst Forecasts for Hong Kong Firms written by Bikki Jaggi and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study evaluates profit and Earnings Per Share forecasts for Hong Kong firms published in the Estimate Directory for financial years 1993 and 1994. The Findings of this study show that on an overall basis analyst forecasts in Hong Kong are more accurate than model forecasts. Similar to the results for US companies, forecasts for Hong Kong companies are also optimistic. Evaluation of the determinants of analyst forecast accuracy indicates that forecasts with shorter time horizons are more accurate than forecasts with longer time horizons and that forecasts for larger firms are comparatively more accurate than smaller firms.
Book Synopsis Properties of Analysts' Earnings Forecasts by : Zilin Zhou
Download or read book Properties of Analysts' Earnings Forecasts written by Zilin Zhou and published by . This book was released on 2010 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Accuracy of Analyst Forecasts by : Patrick J. Butler
Download or read book The Accuracy of Analyst Forecasts written by Patrick J. Butler and published by diplom.de. This book was released on 2002-12-04 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: This paper investigates the quality of financial analysts' earnings forecasts for companies which conducted initial public offerings (IPOs) during the years 1997 to 1999. The Neue Markt in Frankfurt offers a good setting to also study the development of a young market from the beginning of its operation onwards. I find support for the notion that initial returns and analysts' forecast accuracy are negatively related. I find that analysts' forecasts were by no means accurate. Mean forecast deviation, measured as percent deviation from actual earnings per share for the fiscal year, is 186.61 percent for the average broker. The sample is inhibited by serious availability problems, but all the same allows significant findings. Inhaltsverzeichnis:Table of Contents: 1.Introduction5 2.Literature10 2.1Banking systems the German framework10 2.2Conflict of interest as regulated in the German legal system12 2.3The quality of analysts' forecasts and conflicts of interest16 2.4The long-run underperformance phenomenon23 2.5Predicting the aftermarket performance of IPOs27 2.6Summary39 3.Data41 4.Method49 5.Empirical Results53 5.1IPOs differentiated by year of issue53 5.2Disparities of actual values58 5.3Earning per share found in annual reports as basis62 5.4IPOs differentiated by industry classification67 5.5Percentage deviations differentiated by Brokers73 6.Additional Results80 6.1Large German banks seasoned vs. IPO companies80 6.2The time factor86 6.3The relevance of accounting policy88 7.Summary and Conclusion92 8.References95
Book Synopsis Strategic Timing in Analyst Forecasts by : Zizhuang Xiao
Download or read book Strategic Timing in Analyst Forecasts written by Zizhuang Xiao and published by . This book was released on 2016 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Asian Finance by : David Lee Kuo Chuen
Download or read book Handbook of Asian Finance written by David Lee Kuo Chuen and published by Academic Press. This book was released on 2014-05-15 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: Participants in Asian financial markets have witnessed the unprecedented growth and sophistication of their investments since the 1997 crisis. Handbook of Asian Finance: REITs, Trading, and Fund Performance analyzes the forces behind these growth rates. Insights into banking, fund performance, and the effects of trading technologies for practitioners to tax evasion, market manipulation, and corporate governance issues are all here, presented by expert scholars. Offering broader and deeper coverage than other handbooks, the Handbook of Asian Finance: REITs, Trading, and Fund Performance explains what is going on in Asia today. Presents the only micro- and market-related analysis of pan-Asian finance available today Explores the implications implicit in the expansion of sovereign funds and the growth of the hedge fund and real estate fund management industries Investigates the innovations in technology that have ushered in faster capital flow and larger trading volumes
Book Synopsis Analysts' Forecasts as Earnings Expectations (Classic Reprint) by : Patricia C. O'Brien
Download or read book Analysts' Forecasts as Earnings Expectations (Classic Reprint) written by Patricia C. O'Brien and published by Forgotten Books. This book was released on 2018-03-07 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Analysts' Forecasts as Earnings Expectations A third contribution of this paper is a methodological refinement of the techniques used to evaluate forecastsp I demonstrate the existence of significant time-period - specific effects in forecast errors. If time series and cross-section data are pooled without taking these effects into account, the statistical results may be overstated, and the results are subject to an aggregation bias. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Book Synopsis Analysts Forecast Dispersion and Stock Returns in Hong Kong by : Chun Man Hung
Download or read book Analysts Forecast Dispersion and Stock Returns in Hong Kong written by Chun Man Hung and published by . This book was released on 2008 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analysts' Forecasts and Future Stock Return Volatility by : Yaowen Shan
Download or read book Analysts' Forecasts and Future Stock Return Volatility written by Yaowen Shan and published by . This book was released on 2006 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Hong Kong Journal of Business Management by :
Download or read book Hong Kong Journal of Business Management written by and published by . This book was released on 1983 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Evaluation of Security Analysts' Earnings Forecasts by : Y. H. Lui
Download or read book An Evaluation of Security Analysts' Earnings Forecasts written by Y. H. Lui and published by . This book was released on 1992 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analysts' Forecasts, Information and Capital Market by : Yuan Huang
Download or read book Analysts' Forecasts, Information and Capital Market written by Yuan Huang and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analysts' Forecasts, Information and Capital Market by :
Download or read book Analysts' Forecasts, Information and Capital Market written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 10, 72 leaves : ill. ; 30 cm.
Book Synopsis Time Variation in Analyst Optimism by : Hong Qian
Download or read book Time Variation in Analyst Optimism written by Hong Qian and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Many studies have documented that analyst forecasts are overly-optimistic on average. Using quarterly observations from 1984 to 2002, this paper shows that forecasts exhibit optimism for most of the quarters under examination, but the level of optimism varies substantially over time. More importantly, after correcting the measurement problem caused by price, I do not find optimism greatly diminished during most of the 1990s. However, consistent with previous findings, the period of 1999-2000 displays pessimistic forecasts, especially for large firms and growth firms. The macroeconomic factor does not have significant impact on analyst optimism. In contrast, the time-varying investor sentiments measured by two Chicago Board Options Exchange (CBOE) put-call ratios, and the cross-sectional skewness in the forecast errors, play an important role in explaining the time variation in analyst optimism. Finally, analysts track institutional investor sentiment more closely, except for small firms.
Book Synopsis Analyst Forecast Accuracy, Dispersion, and Stock Returns Before and During Stock Market Crashes by : Xiaolei Wang
Download or read book Analyst Forecast Accuracy, Dispersion, and Stock Returns Before and During Stock Market Crashes written by Xiaolei Wang and published by . This book was released on 2008 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Term Structure of Analyst Forecast Dispersion and Future Stock Returns by : 李世仲
Download or read book Term Structure of Analyst Forecast Dispersion and Future Stock Returns written by 李世仲 and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Share Pledging and Bias in Analyst Earnings Forecasts by : 徐悠
Download or read book Share Pledging and Bias in Analyst Earnings Forecasts written by 徐悠 and published by . This book was released on 2020 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Do Financial Analysts' Long-Term Growth Forecasts Matter? Evidence from Stock Recommendations and Career Outcomes by : Boochun Jung
Download or read book Do Financial Analysts' Long-Term Growth Forecasts Matter? Evidence from Stock Recommendations and Career Outcomes written by Boochun Jung and published by . This book was released on 2015 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior literature refers to economic incentives to generate investment banking business and trading commissions as explanations for analyst publication of forecasts of firms' long-term earnings growth (LTG). Prior research also documents wildly optimistic LTG forecasts and a negative relation between LTG forecasts and subsequent excess returns. Thus, the literature portrays analysts' LTG forecasts as nonsensical from a valuation perspective. We introduce and investigate a new perspective on the value-relevance of analyst publication of LTG forecasts. We hypothesize that analysts issuing LTG forecasts signal relatively high effort and ability in developing perspective of the subject firms' long-term prospects. Consistent with this hypothesis, we find that the stock market responds more strongly to the stock recommendation revisions of analysts who publish accompanying LTG forecasts. In addition, we hypothesize and find that analysts issuing LTG forecasts are less likely to leave the profession or move to smaller brokerage houses. Consistent with Reg. FD's intention to restrict analyst access to insider information and promote fundamental analysis of the valuation implications of firms' long-term prospects, we find that post-Reg. FD observations drive most of our results. Overall, we identify previously undocumented benefits accruing to analysts who publish LTG forecasts.
