Financial analysts' forecast accuracy : Before and after the introduction of AIFRS

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dc.contributor.authorCheong, C.
dc.contributor.authorMasum, M.
dc.date.issued2010
dc.description.abstractWe 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.
dc.description.statementofresponsibilityChee Seng Cheong and Mahmud Al Masum
dc.identifier.citationAustralasian Accounting Business and Finance Journal, 2010; 4(3):65-81
dc.identifier.issn1834-2000
dc.identifier.issn1834-2019
dc.identifier.orcidCheong, C. [0000-0001-8120-0167]
dc.identifier.orcidMasum, M. [0000-0002-9922-8173]
dc.identifier.urihttp://hdl.handle.net/2440/67425
dc.language.isoen
dc.publisherUniversity of Wollongong School of Accounting and Finance
dc.rightsCopyright ©2010 Australasian Accounting Business and Finance Journal and Authors.
dc.source.urihttp://ro.uow.edu.au/aabfj/vol4/iss3/5/
dc.subjectAnalysts’ forecasts
dc.subjectAIFRS
dc.subjectForecast errors
dc.subjectIntangible assets
dc.titleFinancial analysts' forecast accuracy : Before and after the introduction of AIFRS
dc.typeJournal article
pubs.publication-statusPublished

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