Financial Reporting and Analysts' Forecasts

Autor: Kun-Lin Shih, 石坤林
Rok vydání: 2003
Druh dokumentu: 學位論文 ; thesis
Popis: 91
This study examines the relations between financial reporting and analysts’ forecasts. In examining the relations between financial reporting and analysts’ forecasts, this study uses the fundamental signals of financial statement from Lev and Thiagarajan(1993) and Abarbanell and Bushee(1997). This study also examines that financial statement information has lost its relevance in recent years. The study has four objectives. First, examining the significance of the fundamental signals of financial statement in explaining analysts’ forecasts. Second, the financial statement information for the firms with earning management have lost its relevance. Third, the financial statement information for the firms with high intangible assets have lost its relevance. Fourth, the financial statement information for the firms with negative earnings assets have lost its relevance. This study uses regression analysis to examine the relations between financial reporting and analysts’ forecasts. The empirical results are as follows: 1. Analysts’ forecasts have significance relations with some fundamental signals of financial statement. 2. The relations between financial reporting and analysts’ forecasts for higher earning management firms are better than that for lower earning management firms for samples in 2000. The relations between financial reporting and analysts’ forecasts for lower earning management firms are better than that for higher earning management firms for samples in 2001 and the full sample. 3. The relations between financial reporting and analysts’ forecasts for higher intangible assets firms are better than that for lower earning management firms. 4. The relations between financial reporting and analysts’ forecasts for the firms with negative earnings are better than the firms with positive earnings.
Databáze: Networked Digital Library of Theses & Dissertations
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