| 管理层业绩预告与分析师盈余预测的相互影响：研究现状与启示 |
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| 引用本文： | 纪新伟,宋云玲.管理层业绩预告与分析师盈余预测的相互影响：研究现状与启示[J].未来与发展,2011,34(8):56-61. |
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| 作者姓名： | 纪新伟 宋云玲 |
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| 作者单位： | 1. 南开大学经济学院,天津,300071
2. 浙江大学管理学院,浙江杭州,310058 |
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| 基金项目： | 中国博士后科学基金项目《上市公司业绩预告的“惯性”研究》(编号:20100481409) |
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| 摘 要： | 统计模型以外,关于公司未来业绩的信息主要来自两个方面：管理层业绩预告和分析师盈余预测。现有研究发现,管理层可以通过业绩预告的发布时间、精度、准确度以及以往的预告声誉等因素影响分析师盈余预测;分析师则可以通过其对市场预期的影响力促使管理层及时披露准确的业绩预告。本文回顾了中美两国关于管理层和分析师互相影响的主要文献,指出了中国现有研究存在的差距,借以发现未来的研究机会。
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| 关 键 词： | 管理层业绩预告 分析师盈余预测 可靠性 准确度 分歧度 |
Interactions between Management Earnings Forecasts and Analyst Forecasts: Literature Review and Insights |
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| JI Xin-wei,Song Yun-ling.Interactions between Management Earnings Forecasts and Analyst Forecasts: Literature Review and Insights[J].Future and Development,2011,34(8):56-61. |
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| Authors: | JI Xin-wei Song Yun-ling |
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| Institution: | JI Xin-wei1,Song Yun-ling2(1.School of Economics Nankai University,Tianjin,300071,China,2.School of Management Zhejiang University,Hangzhou Zhejiang 310058,China) |
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| Abstract: | There are two resources of information about a firm's future earnings besides statistic models: management earnings forecasts and analyst forecasts.Results of extant researches indicated that management can influence analyst forecast by manipulating the timing,precision,and accuracy of management earnings forecasts.Meanwhile,analysts can force management to make more accurate forecasts in time through market expectations.This paper reviews the most influencing literature on interactions between management e... |
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| Keywords: | management earnings forecasts analyst forecasts credibility accuracy dispersion |
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