Do the Stock Exchange Comment Letters Affect the Accuracy of Analysts’ Earnings Forecasts?
- DOI
- 10.2991/assehr.k.210121.123How to use a DOI?
- Keywords
- Comment letters, Accuracy, Analysts’ earnings forecasts
- Abstract
The economic consequences of stock exchange comment letters have received widespread attention, but empirical studies based on analysts’ perspective are scarce. Through theoretical analysis and empirical testing, this paper finds that the accuracy of analysts’ earnings forecasts of enterprises issued with comment letters is lower than that enterprises not consulted. Moreover, the more times the inquired enterprises received the comment letters in a year, the lower the accuracy of analysts’ earnings forecasts will be. This paper expands the research on the economic consequences of stock exchange comment letters from the perspective of analysts, which can provide more valuable information for analysts to forecast.
- Copyright
- © 2021, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Rongrong Chen AU - Yuanhui Li PY - 2021 DA - 2021/01/23 TI - Do the Stock Exchange Comment Letters Affect the Accuracy of Analysts’ Earnings Forecasts? BT - Proceedings of the 6th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2020) PB - Atlantis Press SP - 613 EP - 617 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.210121.123 DO - 10.2991/assehr.k.210121.123 ID - Chen2021 ER -