Analysts' Dynamic Decisions: Timeliness versus Accuracy

For analysts there is a tradeoff between the accuracy and the timeliness of their forecasts. Prior literature heavily investigates analyst forecast accuracy. Few papers investigate the importance of timeliness. To our best knowledge, there are no empirical papers to date to investigate the dynamic interplay between these key characteristics. We show that if analysts experience a period of high accuracy relative to their peers, they subsequently focus more on the timeliness of their forecasts in the subsequent period and thus issue their forecasts earlier than they did in the prior period.
Publisher
John Wiley & Sons, Ltd.
Issue Date
2017-07
Language
English
Keywords

SELL-SIDE ANALYSTS; EARNINGS FORECASTS; SECURITY ANALYSTS; REG FD; PERFORMANCE; MANAGEMENT; REPUTATION; BEHAVIOR; ACCESS

Citation

Journal of Forecasting, v.36, no.4, pp.368 - 381

ISSN
1099-131X
DOI
10.1002/for.2438
URI
http://hdl.handle.net/10203/225238
Appears in Collection
MT-Journal Papers(저널논문)
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