Are Financial Analysts Forecasts Of Corporate Profits Rational?

Keane, M; Runkle, D

Are Financial Analysts Forecasts Of Corporate Profits Rational?

Keane, M Runkle, D

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Publisher:: Univ Chicago Press
Publication Type:: Journal Article
Citation:: Journal of Political Economy, 1998, 106 (4), pp. 768 - 805
Issue Date:: 1998-01

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Field	Value	Language
dc.contributor.author	Keane, M	en_US
dc.contributor.author	Runkle, D	en_US
dc.date.issued	1998-01	en_US
dc.identifier.citation	Journal of Political Economy, 1998, 106 (4), pp. 768 - 805	en_US
dc.identifier.issn	0022-3808	en_US
dc.identifier.uri	http://hdl.handle.net/10453/13932
dc.description.abstract	This paper develops generalized method-of-moments tests for the rationality of earnings per share forecasts made by individual stock analysts. We fail to reject the hypothesis of rationality as long as we take into account two complications: (1) the corr	en_US
dc.publisher	Univ Chicago Press	en_US
dc.relation.ispartof	Journal of Political Economy	en_US
dc.relation.isbasedon	10.1086/250029	en_US
dc.subject.classification	Economics	en_US
dc.title	Are Financial Analysts Forecasts Of Corporate Profits Rational?	en_US
dc.type	Journal Article
utslib.citation.volume	4	en_US
utslib.citation.volume	106	en_US
utslib.for	140207 Financial Economics	en_US
utslib.for	14 Economics	en_US
utslib.for	15 Commerce, Management, Tourism and Services	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.issue	4	en_US
pubs.volume	106	en_US

Abstract:

This paper develops generalized method-of-moments tests for the rationality of earnings per share forecasts made by individual stock analysts. We fail to reject the hypothesis of rationality as long as we take into account two complications: (1) the corr

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http://hdl.handle.net/10453/13932