158
Views
2
CrossRef citations to date
0
Altmetric
Original Articles

UK security analysts’ idiosyncratic factors and predictive ability

Pages 1195-1203 | Published online: 06 Jul 2010

References

  • Abarbanell , JS and Lehavy , R . 2003 . Biased forecasts or biased earnings? The role of earnings management in explaining apparent optimism and inefficiency in analysts’ earnings forecasts , Working Paper MI : University of Michigan Business School .
  • Anderson , M . 1988 . A comparative analysis of information search and evaluation behaviour of professional and non-professional financial analysts . Accounting, Organizations and Society , 13 : 431 – 46 .
  • Barker , RG . 1998 . The market for information–evidence from finance directors, analysts and fund managers . Accounting and Business Research , Winter : 3 – 20 .
  • Barker , RG . 2000 . FRS3 and analysts use of earnings . Accounting and Business Research , Spring : 95 – 109 .
  • Basi , BA , Carey , KJ and Twark , RD . 1976 . A comparison of the accuracy of corporate and security analyst forecasts of earnings . Accounting Review , April : 244 – 54 .
  • Bhaskar , KN and Morris , RC . 1984 . The accuracy of brokers’ profit forecasts in the UK . Accounting and Business Research , Spring : 113 – 24 .
  • Bhushan , R . 1989 . Firm characteristics and analyst following . Journal of Accounting and Economics , 11 : 255 – 74 .
  • Bouwman , M , Frishkoff , P and Frishkoff , P . 1987 . How do financial analysts make decisions? A process model of the information screening decision . Accounting, Organizations and Society , 12 : 1 – 29 .
  • Brown , LD . 2001 . How important is past analyst forecast accuracy? . Financial Analysts Journal , November/December : 44 – 9 .
  • Brown , P , Foster , G and Noreen , E . 1985 . “ Security analyst multi-year earnings forecasts and the capital market ” . In Studies in Accounting Research No. 21 , FL : American Accounting Association .
  • Capstaff , J , Paudyal , K and Rees , W . 1995 . The accuracy and rationality of earnings forecasts by UK analysts . Journal of Business Finance and Accounting , January : 67 – 85 .
  • Capstaff , J , Paudyal , K and Rees , W . 1999 . The relative forecast accuracy of UK brokers . Accounting and Business Research , Winter : 3 – 16 .
  • Capstaff , J , Paudyal , K and Rees , W . 2001 . A comparative analysis of earnings forecast in Europe . Journal of Business Finance and Accounting , June/July : 531 – 62 .
  • Clement , MB . 1999 . Analyst forecast accuracy: do ability, resources and portfolio complexity matter? . Journal of Accounting and Economics , 27 : 285 – 303 .
  • Day , JFS . 1986 . The use of annual reports by UK investment analysts . Accounting and Business Research , Autumn : 295 – 307 .
  • Foster , G . 1986 . Financial Statement Analysis, , 2nd , NJ : Prentice-Hall .
  • Helbok , G and Walker , M . 2004 . On the nature and rationality of analysts’ forecasts under earnings conservatism . British Accounting Review , 36 : 45 – 77 .
  • Hong, H., Kubik, J. and Solomon, A. (1998) Security analysts’ career concerns and herding of earnings forecasts, Unpublished Working Paper, Stanford University, CA, Syracuse University, NY and MIT, MA.
  • Hunton , JE and McEwen , RA . 1997 . An assessment of the relation between analysts’ earnings forecast accuracy, motivational incentives and cognitive information search strategy . Accounting Review , October : 497 – 515 .
  • Hussain , S . 2002 . UK brokers’ characteristics: does size matter? . Accounting and Business Research , 32 : 153 – 70 .
  • Jacob , J , Lys , TZ and Neale , MA . 1999 . Expertise in forecasting performance of security analysts . Journal of Accounting and Economics , 28 : 51 – 82 .
  • Marston , C . 1997 . Firm characteristics and analyst following in the UK . British Accounting Review , December : 335 – 47 .
  • Marston, C. (1999) Investor Relations Meetings: Views of Companies, Institutional Investors and Analysts, The Institute of Chartered Accountants of Scotland, UK.
  • McEwen , RA and Hunton , JE . 1999 . Is analyst forecast accuracy associated with accounting information use? . Accounting Horizons , 13 : 1 – 16 .
  • Mikhail , MB , Walther , BR and Willis , RH . 1997 . Do security analysts improve their performance with experience? . Journal of Accounting Research , 35 : 131 – 57 .
  • O’Hanlon , J and Whiddett , R . 1991 . Do UK security analysts overreact? . Accounting and Business Research , Autumn : 63 – 74 .
  • Patz , DH . 1989 . UK analysts’ earnings forecasts . Accounting and Business Research , Summer : 267 – 75 .
  • Pike , R , Meerjanssen , J and Chadwick , L . 1993 . The appraisal of ordinary shares by investment analysts in the UK and Germany . Accounting and Business Research , Autumn : 489 – 99 .
  • Stickel , SE . 1995 . The anatomy of the performance of buy and sell recommendations . Financial Analysts Journal , 51 : 25 – 39 .
  • Taylor , SJ and Ward , CWR . 1985 . Relative accuracy of earnings forecasts made by UK stockbrokers . The Investment Analyst , January : 15 – 17 .
  • Yates , FJ . 1990 . Judgement and Decision Making , NJ : Prentice-Hall .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.