Do accurate earnings forecasts facilitate superior investment recommendations?
We find that analysts who issue more accurate earnings forecasts also issue more profitable stock recommendations. The average factor-adjusted return associated with the recommendations of analysts in the highest accuracy quintile exceeds the corresponding return for analysts in the lowest accuracy...
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Main Authors: | , |
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Format: | text |
Language: | English |
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Institutional Knowledge at Singapore Management University
2006
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Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/2641 https://ink.library.smu.edu.sg/context/lkcsb_research/article/3640/viewcontent/Do_accurate_earnings_forecasts_facilitate_superior_pp_2003.pdf |
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Institution: | Singapore Management University |
Language: | English |