Does Team Make Better Earnings Forecast?: Evidence from China

DOI

10.2991/jisem-15.2015.39How to use a DOI?

Keywords

team-individual; behavioral decision theory; analysts forecast; herding behavior

Abstract

A total of 54,443 analysts earnings forecasts were taken as the study samples on the Chinese securities market in the period of 2007~2010, and the differences in influences from the earnings forecast released in the form of individual and the form of team on the analysts earnings forecast behavior were empirically tested. The study found: Compared with the forecast released in the form of individuals, the forecast released in the form of team had significant differences in the forecast decision-making process, i.e. the forecast released in the form of team had more obvious herding behavior; the forecast released in the form of team featured higher accuracy but poorer timeliness; when the team existed any star analyst, the forecast behaviors would also show significant difference.

Copyright

© 2015, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Lisha Ma
AU  - Xianwei Lu
PY  - 2015/12
DA  - 2015/12
TI  - Does Team Make Better Earnings Forecast?: Evidence from China
BT  - Proceedings of the 2015 Joint International Social Science, Education, Language, Management and Business Conference
PB  - Atlantis Press
SP  - 185
EP  - 190
SN  - 2352-5398
UR  - https://doi.org/10.2991/jisem-15.2015.39
DO  - 10.2991/jisem-15.2015.39
ID  - Ma2015/12
ER  -