Title of article
Analystsʹʹ use of earnings forecasts in predicting stock returns: Forecast horizon effects
Author/Authors
Zabihi Soltan Ahmadi ، Maryam نويسنده Department of Management and Accounting, South Branch, Islamic Azad University, Tehran, Iran , , Baghani، Ali نويسنده Department of Management and Accounting, South Branch, Islamic Azad University, Tehran, Iran ,
Issue Information
ماهنامه با شماره پیاپی 42 سال 2015
Pages
6
From page
531
To page
536
Abstract
This paper presents an empirical investigation to study the effects of quality of earnings forecasts in predicting stock returns on 121 selected firms traded on Tehran Stock Exchange over the period 2009-2013. The study investigates the effects of three year means of earnings forecast accuracy on investors’ investment decisions in terms of volume and time horizon, i.e. short term and long term investment sentiment. Using some regression analysis, the study has determined a positive and meaningful relationship between the quality of earnings forecast and investment time horizon. However, the study did not find any meaningful relationship between earnings forecast accuracy and volume of investment.
Journal title
Management Science Letters
Serial Year
2015
Journal title
Management Science Letters
Record number
2041732
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