On the performance of naïve, analyst and composite earnings forecasts: Evidence from Hong Kong
Publication in refereed journal

替代計量分析
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其它資訊
摘要In this paper, we compare the information content and performance of naïve, analyst and composite forecasts in Hong Kong. Empirical evidence shows that superior performance can be obtained by a composite measure combining both analyst and naïve forecasts. In addition, analyst forecasts become more conditionally efficient over the naïve model as the actual announcement approaches. The superiority and timing advantage of analyst forecasts suggest that more emphasis should be placed on the services of analysts for predicting future earnings figures, particularly when the announcement is approaching. © Blackwell Publishing Ltd. 2003.
著者Cheng J.W., Fan D.K., So R.W.
期刊名稱Journal of International Financial Management and Accounting
出版年份2003
月份12
日期1
卷號14
期次2
出版社Blackwell Publishing Inc.
出版地United Kingdom
頁次146 - 165
國際標準期刊號0954-1314
語言英式英語

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