Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/67425
Type: Journal article
Title: Financial analysts' forecast accuracy : Before and after the introduction of AIFRS
Author: Cheong, C.
Masum, M.
Citation: Australasian Accounting Business and Finance Journal, 2010; 4(3):65-81
Publisher: University of Wollongong School of Accounting and Finance
Issue Date: 2010
ISSN: 1834-2000
Statement of
Responsibility: 
Chee Seng Cheong and Mahmud Al Masum
Abstract: We examine whether financial analysts’ forecast accuracy differs between the pre- and post- adoption of Australian Equivalents to the International Financial Reporting Standards (AIFRS). We find that forecast accuracy has improved after Australia adopted AIFRS. As a secondary objective, this paper also investigates the role of financial analysts in reducing information asymmetry in today’s Australian capital market. We find weak evidence that more analysts following a stock do not help to improve forecast accuracy by bringing more firm-specific information to the market.
Keywords: Analysts’ forecasts; AIFRS; Forecast errors; Intangible assets
Rights: Copyright ©2010 Australasian Accounting Business and Finance Journal and Authors.
RMID: 0020112484
Published version: http://ro.uow.edu.au/aabfj/vol4/iss3/5/
Appears in Collections:Business School publications

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