Earnings forecasts in enterprise information systems environment
Earnings forecasts in enterprise information systems environment
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DOI：
10.1080/17517570701846539
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发表时间：
2008-02
影响因子：
4.4
通讯作者：
Lihong Liang
中科院分区：
文献类型：
--
作者：
Lihong Liang
随着全球金融市场的一体化和全球化，企业信息系统在金融服务业的应用越来越普遍。本文探讨了分析师的决定分配努力的准确性和及时性的盈利预测与财务决策支持系统。一旦分析师决定跟踪一家公司，分析师必须选择投入到产生产出（如盈利预测）的努力程度。本文通过研究有关个别分析师预测的三个问题，对此提供了见解。首先，预测精度和频率同时建模。然后，这两个努力分配选择是互补还是替代进行了测试。最后，如何竞争影响这两个特点进行了研究。用联立方程组检验了精度和频率。从这个分析的结果表明，分析师分配这两个预测标准之间的互补方式的努力。最后，实证结果揭示了竞争和预测频率之间的正相关关系的个人分析师。然而，没有发现竞争和个人分析师的预测准确性之间的显着关联。
With the globalisation and integration of world financial markets, the application of enterprise information systems has become more and more popular in the financial service sector. This paper examines the analyst's decision regarding allocation of effort to the precision and timeliness of earnings forecasts with financial decision support systems. Once an analyst decides to follow a firm, the analyst must choose the level of effort to devote to generating outputs, such as earnings forecasts. This paper provides insights into this by examining three issues concerning the forecasts of the individual analyst. First, forecast accuracy and frequency are modelled simultaneously. Then, whether these two effort allocation choices are complements or substitutes is tested. Finally, how competition affects these two characteristics is examined. The accuracy and frequency are examined with simultaneous equations. Results from this analysis suggest that analysts allocate effort among these two forecast criteria in a complementary way. Finally, empirical results reveal a positive association between competition and forecast frequency by the individual analyst. However, a significant association between competition and the individual analyst's forecast accuracy is not found.