THE ACCURACY AND RATIONALITY OF EARNINGS FORECASTS BY UK ANALYSTS

Abstract

Journal of Business Finance & AccountingVolume 22, Issue 1 p. 67-85 THE ACCURACY AND RATIONALITY OF EARNINGS FORECASTS BY UK ANALYSTS John Capstaff, Corresponding Author John CapstaffAddress for correspondence: John Capstaff, Department of Accounting and Finance, University of Strathclyde, Curran Building, 100 Cathedral Street, Glasgow G4 OLN, UK.Search for more papers by this authorKrishna Paudyal, Krishna PaudyalSearch for more papers by this authorWilliam Rees, William Rees The first and third authors are from the Department of Accounting and Finance, University of Strathclyde and the second author is from the Department of Finance and Accounting, Glasgow Caledonian University. They are grateful for the generous support provided by the Research Board of the ICAEW and acknowledge the contribution of I/B/E/S Inc. for providing earnings per share forecast data, available through the Institutional Brokers Estimate System. This data has been provided as part of a broad based academic programme to encourage earnings expectations research. The authors are also indebted to the anonymous referee who provided valuable comments on an earlier draft of this paper.Search for more papers by this author John Capstaff, Corresponding Author John CapstaffAddress for correspondence: John Capstaff, Department of Accounting and Finance, University of Strathclyde, Curran Building, 100 Cathedral Street, Glasgow G4 OLN, UK.Search for more papers by this authorKrishna Paudyal, Krishna PaudyalSearch for more papers by this authorWilliam Rees, William Rees The first and third authors are from the Department of Accounting and Finance, University of Strathclyde and the second author is from the Department of Finance and Accounting, Glasgow Caledonian University. They are grateful for the generous support provided by the Research Board of the ICAEW and acknowledge the contribution of I/B/E/S Inc. for providing earnings per share forecast data, available through the Institutional Brokers Estimate System. This data has been provided as part of a broad based academic programme to encourage earnings expectations research. The authors are also indebted to the anonymous referee who provided valuable comments on an earlier draft of this paper.Search for more papers by this author First published: January 1995 https://doi.org/10.1111/j.1468-5957.1995.tb00672.xCitations: 63 AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinked InRedditWechat Citing Literature Volume22, Issue1January 1995Pages 67-85 RelatedInformation