Chapter 9 - Another Look at Financial Analysts’ Forecasts Accuracy: Recent Evidence From Eastern European Frontier Markets

Abstract

Our main objective in this chapter is to shed light on financial analysts’ performance on Eastern European frontier markets during the past decade (2005–13). Considering the global financial crisis in 2008 as a potential breakdown, we focus on the quality and accuracy of analysts’ earnings forecasts. We are able to draw empirical comparisons with other Western and Eastern European developed and emerging financial markets. Our results highlight special topics and report a relevant evolution of financial analysts’ forecasts for our sample of eight Eastern European frontier markets after the crisis.