Expertise in forecasting performance of security analysts
In this study of sell-side analysts’ forecasts, we explore the effects of analyst aptitude, learning-by-doing, and the internal environment of the brokerage house on forecast accuracy. Our results indicate that analysts’ aptitude and brokerage house characteristics are associated with forecast accur...
Gespeichert in:
| Veröffentlicht in: | Journal of accounting & economics 1999-11, Vol.28 (1), p.51-82 |
|---|---|
| Hauptverfasser: | , , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 82 |
|---|---|
| container_issue | 1 |
| container_start_page | 51 |
| container_title | Journal of accounting & economics |
| container_volume | 28 |
| creator | Jacob, John Lys, Thomas Z. Neale, Margaret A. |
| description | In this study of sell-side analysts’ forecasts, we explore the effects of analyst aptitude, learning-by-doing, and the internal environment of the brokerage house on forecast accuracy. Our results indicate that analysts’ aptitude and brokerage house characteristics are associated with forecast accuracy, while learning-by-doing is only associated with forecast accuracy when we do not control for analysts’ company-specific aptitude in forecasting. It is unlikely that this result is caused by measurement errors because it is robust when we use a sub-sample where we can accurately measure experience. |
| doi_str_mv | 10.1016/S0165-4101(99)00016-6 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_miscellaneous_38794357</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><els_id>S0165410199000166</els_id><sourcerecordid>38794357</sourcerecordid><originalsourceid>FETCH-LOGICAL-c513t-6947e4f451428b08884dc18c8b38260a6c9fc510deaca25613e2113bb9e3750c3</originalsourceid><addsrcrecordid>eNqFkE1LAzEQhoMoWKs_QVg8iB5Wk81-JCeRUj-g4EE9D2k6qyn7ZbJb7L932koPXjzMZCa872TyMHYu-I3gIr99pZTFKdVXWl9zTm2cH7CRUIWOhVb8kI32kmN2EsKSRGmi-Ijp6XeHvncBI9dEZevRmtC75iOia2pr01iM2jIKaAfv-nVkGlOtQx9O2VFpqoBnv-eYvT9M3yZP8ezl8XlyP4ttJmQf5zotMC3TTNCDc66UShdWKKvmUiU5N7nVJSn5Ao01SZYLiYkQcj7XKIuMWzlml7u5nW-_Bgw91C5YrCrTYDsEkPTLVGYFCS_-CJft4GnbAImQXMgkT0mU7UTWtyF4LKHzrjZ-DYLDhiZsacIGFWgNW5qQk-9p5_PYod2bEHFp0LYNrECaRFFaUwhNVmncpqToKDIBKoHPvqZRd7tRSNRWDj0E65AwLxzR72HRun-W-QGQYZNi</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>213013264</pqid></control><display><type>article</type><title>Expertise in forecasting performance of security analysts</title><source>RePEc</source><source>Elsevier ScienceDirect Journals Complete</source><creator>Jacob, John ; Lys, Thomas Z. ; Neale, Margaret A.</creator><creatorcontrib>Jacob, John ; Lys, Thomas Z. ; Neale, Margaret A.</creatorcontrib><description>In this study of sell-side analysts’ forecasts, we explore the effects of analyst aptitude, learning-by-doing, and the internal environment of the brokerage house on forecast accuracy. Our results indicate that analysts’ aptitude and brokerage house characteristics are associated with forecast accuracy, while learning-by-doing is only associated with forecast accuracy when we do not control for analysts’ company-specific aptitude in forecasting. It is unlikely that this result is caused by measurement errors because it is robust when we use a sub-sample where we can accurately measure experience.</description><identifier>ISSN: 0165-4101</identifier><identifier>EISSN: 1879-1980</identifier><identifier>DOI: 10.1016/S0165-4101(99)00016-6</identifier><identifier>CODEN: JAECDS</identifier><language>eng</language><publisher>Amsterdam: Elsevier B.V</publisher><subject>Accuracy ; Analysts ; Analysts’ forecasts ; Capital market ; Capital markets ; Data analysis ; Earnings forecasting ; Evaluation ; Financial information ; Forecasts ; Learning ; Securities trading ; Statistical analysis ; Studies</subject><ispartof>Journal of accounting & economics, 1999-11, Vol.28 (1), p.51-82</ispartof><rights>1999</rights><rights>Copyright Elsevier Sequoia S.A. Nov 1999</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c513t-6947e4f451428b08884dc18c8b38260a6c9fc510deaca25613e2113bb9e3750c3</citedby><cites>FETCH-LOGICAL-c513t-6947e4f451428b08884dc18c8b38260a6c9fc510deaca25613e2113bb9e3750c3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1016/S0165-4101(99)00016-6$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,780,784,3550,4008,27924,27925,45995</link.rule.ids><backlink>$$Uhttp://econpapers.repec.org/article/eeejaecon/v_3a28_3ay_3a1999_3ai_3a1_3ap_3a51-82.htm$$DView record in RePEc$$Hfree_for_read</backlink></links><search><creatorcontrib>Jacob, John</creatorcontrib><creatorcontrib>Lys, Thomas Z.</creatorcontrib><creatorcontrib>Neale, Margaret A.</creatorcontrib><title>Expertise in forecasting performance of security analysts</title><title>Journal of accounting & economics</title><description>In this study of sell-side analysts’ forecasts, we explore the effects of analyst aptitude, learning-by-doing, and the internal environment of the brokerage house on forecast accuracy. Our results indicate that analysts’ aptitude and brokerage house characteristics are associated with forecast accuracy, while learning-by-doing is only associated with forecast accuracy when we do not control for analysts’ company-specific aptitude in forecasting. It is unlikely that this result is caused by measurement errors because it is robust when we use a sub-sample where we can accurately measure experience.</description><subject>Accuracy</subject><subject>Analysts</subject><subject>Analysts’ forecasts</subject><subject>Capital market</subject><subject>Capital markets</subject><subject>Data analysis</subject><subject>Earnings forecasting</subject><subject>Evaluation</subject><subject>Financial information</subject><subject>Forecasts</subject><subject>Learning</subject><subject>Securities trading</subject><subject>Statistical analysis</subject><subject>Studies</subject><issn>0165-4101</issn><issn>1879-1980</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1999</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><recordid>eNqFkE1LAzEQhoMoWKs_QVg8iB5Wk81-JCeRUj-g4EE9D2k6qyn7ZbJb7L932koPXjzMZCa872TyMHYu-I3gIr99pZTFKdVXWl9zTm2cH7CRUIWOhVb8kI32kmN2EsKSRGmi-Ijp6XeHvncBI9dEZevRmtC75iOia2pr01iM2jIKaAfv-nVkGlOtQx9O2VFpqoBnv-eYvT9M3yZP8ezl8XlyP4ttJmQf5zotMC3TTNCDc66UShdWKKvmUiU5N7nVJSn5Ao01SZYLiYkQcj7XKIuMWzlml7u5nW-_Bgw91C5YrCrTYDsEkPTLVGYFCS_-CJft4GnbAImQXMgkT0mU7UTWtyF4LKHzrjZ-DYLDhiZsacIGFWgNW5qQk-9p5_PYod2bEHFp0LYNrECaRFFaUwhNVmncpqToKDIBKoHPvqZRd7tRSNRWDj0E65AwLxzR72HRun-W-QGQYZNi</recordid><startdate>19991101</startdate><enddate>19991101</enddate><creator>Jacob, John</creator><creator>Lys, Thomas Z.</creator><creator>Neale, Margaret A.</creator><general>Elsevier B.V</general><general>Elsevier</general><general>Elsevier Sequoia S.A</general><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>19991101</creationdate><title>Expertise in forecasting performance of security analysts</title><author>Jacob, John ; Lys, Thomas Z. ; Neale, Margaret A.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c513t-6947e4f451428b08884dc18c8b38260a6c9fc510deaca25613e2113bb9e3750c3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>1999</creationdate><topic>Accuracy</topic><topic>Analysts</topic><topic>Analysts’ forecasts</topic><topic>Capital market</topic><topic>Capital markets</topic><topic>Data analysis</topic><topic>Earnings forecasting</topic><topic>Evaluation</topic><topic>Financial information</topic><topic>Forecasts</topic><topic>Learning</topic><topic>Securities trading</topic><topic>Statistical analysis</topic><topic>Studies</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Jacob, John</creatorcontrib><creatorcontrib>Lys, Thomas Z.</creatorcontrib><creatorcontrib>Neale, Margaret A.</creatorcontrib><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of accounting & economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Jacob, John</au><au>Lys, Thomas Z.</au><au>Neale, Margaret A.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Expertise in forecasting performance of security analysts</atitle><jtitle>Journal of accounting & economics</jtitle><date>1999-11-01</date><risdate>1999</risdate><volume>28</volume><issue>1</issue><spage>51</spage><epage>82</epage><pages>51-82</pages><issn>0165-4101</issn><eissn>1879-1980</eissn><coden>JAECDS</coden><abstract>In this study of sell-side analysts’ forecasts, we explore the effects of analyst aptitude, learning-by-doing, and the internal environment of the brokerage house on forecast accuracy. Our results indicate that analysts’ aptitude and brokerage house characteristics are associated with forecast accuracy, while learning-by-doing is only associated with forecast accuracy when we do not control for analysts’ company-specific aptitude in forecasting. It is unlikely that this result is caused by measurement errors because it is robust when we use a sub-sample where we can accurately measure experience.</abstract><cop>Amsterdam</cop><pub>Elsevier B.V</pub><doi>10.1016/S0165-4101(99)00016-6</doi><tpages>32</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0165-4101 |
| ispartof | Journal of accounting & economics, 1999-11, Vol.28 (1), p.51-82 |
| issn | 0165-4101 1879-1980 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38794357 |
| source | RePEc; Elsevier ScienceDirect Journals Complete |
| subjects | Accuracy Analysts Analysts’ forecasts Capital market Capital markets Data analysis Earnings forecasting Evaluation Financial information Forecasts Learning Securities trading Statistical analysis Studies |
| title | Expertise in forecasting performance of security analysts |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-05T07%3A42%3A28IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Expertise%20in%20forecasting%20performance%20of%20security%20analysts&rft.jtitle=Journal%20of%20accounting%20&%20economics&rft.au=Jacob,%20John&rft.date=1999-11-01&rft.volume=28&rft.issue=1&rft.spage=51&rft.epage=82&rft.pages=51-82&rft.issn=0165-4101&rft.eissn=1879-1980&rft.coden=JAECDS&rft_id=info:doi/10.1016/S0165-4101(99)00016-6&rft_dat=%3Cproquest_cross%3E38794357%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=213013264&rft_id=info:pmid/&rft_els_id=S0165410199000166&rfr_iscdi=true |