证券市场导报Issue(3)：33-38,6.
公平信息披露与分析师预测精度——来自中国上市公司的经验证据
刘少波 1彭绣梅1
作者信息
- 1. 暨南大学金融研究所,广东广州510632
- 折叠
摘要
Abstract
Securities analysts are important information processors and disseminators, and their information behavior have a major impact on small investors and the market efficiency. Using a large sample of yearly analysts＇ earnings forecasts from 2003-2009 and model of panel regressions, this paper empirically assesses the impact of regulation fair disclosure on the accuracy of analysts＇ earnings forecasts. The studied results show that analyst forecast become less accurate following the adoption of fair disclosure rules. As the time of regulation＇s implementation extended, the negative effect become larger for the later years than the earlier years following FD＇s adoption. In addition, this effect is significantly larger for companies which have relatively worse information disclosure.关键词
公平信息披露/选择性信息披露/盈利预测Key words
fair disclosure of information/selective disclosure/earnings forecast分类
管理科学引用本文复制引用
刘少波,彭绣梅..公平信息披露与分析师预测精度——来自中国上市公司的经验证据[J].证券市场导报,2012,(3):33-38,6.
