Do Analysts Understand the Valuation Implications of Accounting Conservatism when Forecasting Target Prices?
Conservatism in earnings does not have a direct impact on the present value of future cash flows. This paper examines whether financial analysts correctly undo the effect of accounting conservatism incorporated in their own earnings forecasts in arriving at their target price forecasts. Based on pri...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2012
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soa_research/894 https://ink.library.smu.edu.sg/context/soa_research/article/1893/viewcontent/conf13kim.pdf |
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| Institution: | Singapore Management University |
| Language: | English |