The Ability of Analysts' Recommendations to Predict Optimistic and Pessimistic Forecasts

Biglari, Vahid; Alfan, Ervina; Ahmad, Rodina; Hajian, Najmeh

doi:10.1371/journal.pone.0073853

Cited by 4 publications

(4 citation statements)

References 42 publications

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“…The positive rating information resulted in abnormal return whereas earnings forecast errors tend to higher especially during the short-term horizon. This is in line with the results made by Biglari et al (2013) and Devos et al (2007) with regard to forecast errors and earnings forecast.…”

Section: Macroeconomic Factors Industry Analysts Firm Analysts Informsupporting

confidence: 91%

Information Content of Analysts' Report: A Literature Survey

et al. 2018

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The objective of this paper is to survey the literature on the information content of analyst report from three essential dimensions, namely, target price, earnings forecast and trading volume. The method employed is following the qualitative approach by reviewing and examining the past literature from the view of theoretical and empirical researchers. The initial result from existing literature, reveals that the research in analyst report mainly focused on empirical research rather than theoretical perspective. Secondly, there no clear consensus on the consistency of results regarding how well the information contents involving target price, earnings forecast and trading volume influencing the stock return. Thus, the views whether analyst report transmitting information to the investors still remain unambiguous when making an investment decision. This study is expected to enrich the existing literature in the area of analyst report and propose several areas for future researchers related to this topic.DOI: 10.15408/etk.v17i1.6669

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Section: Macroeconomic Factors Industry Analysts Firm Analysts Informsupporting

confidence: 91%

Information Content of Analysts' Report: A Literature Survey

et al. 2018

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show abstract

“…Positive rating information resulted in abnormal return whereas earnings forecast errors tended to be higher especially during a short-term horizon. This is in line with the results made by Biglari et al (2013) and Devos et al (2007) with regard to forecast errors and earnings forecast.…”

Section: Literature Review On the Information Content Of Earnings Forsupporting

confidence: 91%

How useful are the equity analysts' report? Evidence from Malaysia

Thaker¹,

Mohamad²,

Kamil³

et al. 2018

Reports on Economics and Finance

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Using 657 Malaysian sell-side analyst recommendations from January 2010 until December 2015, this paper documents the usefulness of equity analyst reports to investors. The research findings revealed that target price and earnings forecast had a significant association with stock return. However, trading volume was shown to have an insignificant relationship with the return. Overall, our results indicate that the information content in the analyst report contained only 66.67% explanatory vis a vis stock return and only target price and earnings forecast were useful. This paper is expected to add value in enriching the literature available on analyst report especially in the context of Malaysian market.

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“…We can get a basic understanding of BP neurons through an intuitive model. As shown in the model, R input values are, respectively, equipped with R weights W to connect to the next layer of the model [17]. e operation of the entire model can be expressed as a � f(w p + b).…”

Section: Bp Artificial Neural Networkmentioning

confidence: 99%

Design and Application of a Financial Distress Early Warning Model Based on Data Reasoning and Pattern Recognition

2022

Advances in Multimedia

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Since the 1990s, emerging market financial crises have occurred frequently, causing huge damage to the real economy, and if we cannot find effective means of early warning and prevention of financial crises, the entire international economy and society will bear the high costs of crisis management. Difference nonparametric test and Spearman nonparametric correlation analysis were carried out with cash flow financial data, and 14 financial indicators with strong discriminant ability were selected from 28 financial indicators as the input variables of the model. Due to the limitations of traditional statistical methods, a BP neural network financial distress early warning model is established. Finally, a particle swarm optimization BP neural network financial early warning model is established for the shortcomings of the BP network. These 14 indicators can have strong information timeliness. The prediction accuracy rates of the two early warning models for the test samples are 80% and 85%, respectively. The empirical results show that the two models have good prediction effects. The prediction effect of the swarm optimization BP neural network model is better than that of the BP neural network model. Therefore, the particle swarm optimization BP neural network model proposed in this paper is suitable for solving the problem of discrimination and prediction of the financial distress of enterprises. The company’s financial distress early warning has good application prospects and application value. Therefore, it has very important research significance for the early warning of the corporate financial crisis.

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The Ability of Analysts' Recommendations to Predict Optimistic and Pessimistic Forecasts

Cited by 4 publications

References 42 publications

Information Content of Analysts' Report: A Literature Survey

Information Content of Analysts' Report: A Literature Survey

How useful are the equity analysts' report? Evidence from Malaysia

Design and Application of a Financial Distress Early Warning Model Based on Data Reasoning and Pattern Recognition

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