Robust measures of earnings surprises
Event studies of market efficiency measure an earnings surprise with the consensuserror (CE), defined as earnings minus the average of professional forecasts. Even if asubset of forecasts can be biased, the ideal but difficult to estimate parameter-dependentalternative to CE is a nonlinear filter of...
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| Main Authors: | , , , , |
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2019
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| 在線閱讀: | https://ink.library.smu.edu.sg/lkcsb_research/5406 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6405/viewcontent/SSRN_id2473366.pdf |
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| 機構: | Singapore Management University |
| 語言: | English |