<p> We developed and tested procedures to rank the performance of security analysts according to the timeliness of their earning forecasts. We compared leaders and followers among analysts on various performance attributes, such as accuracy, boldness, experience, brokerage size and so on. We also use discriminant analysis and logistic regression model to examine what attributes have an effect on the classification. Further, we examined whether the timeliness of forecasts is related to their impact on stock prices. We found that the lead
analysts identified by the measure of forecast timeliness have a greater impact on stock price
than follower analysts. Our initial sample includes all firms on the Institutional Brokers
Estimate System (I/B/E/S) database and security return data on the daily CRSP file for the
years 1994 through 2003.</p> / Thesis / Master of Science (MSc)
Identifer | oai:union.ndltd.org:mcmaster.ca/oai:macsphere.mcmaster.ca:11375/21343 |
Date | 05 1900 |
Creators | Wang, Li |
Contributors | Veall, Mike, Kanagaretnam, K., Statistics |
Source Sets | McMaster University |
Language | en_US |
Detected Language | English |
Type | Thesis |
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