The characteristics of individual analysts' forecasts in Europe

被引：33
|
作者：
Bolliger, G
机构：
[1] Univ Neuchatel, CH-2000 Neuchatel, Switzerland
[2] FAME, CH-2000 Neuchatel, Switzerland
来源：
JOURNAL OF BANKING & FINANCE | 2004年 / 28卷 / 09期
关键词：
brokerage house; financial analysts; forecast accuracy; incentives; labour market;
D O I：
10.1016/j.jbankfin.2003.09.011
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study investigates the determinants of financial analysts' forecasts differential accuracy in 14 different European stock markets. Using the I/B/E/S Detail History Database, I find that European financial analysts forecast accuracy is positively associated with analyst firm specific experience. Forecast accuracy is negatively associated with the number of countries followed by analysts and the age of the forecast. Surprisingly, I find no relationship between forecast accuracy and analysts' job experience and the size of the bank employing the analyst. (C) 2003 Elsevier B.V. All rights reserved.
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页码：2283 / 2309
页数：27
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