Organization capital and analysts' forecasts

Cited 1 time in webofscience Cited 0 time in scopus
  • Hit : 60
  • Download : 0
We conjecture that a firm's organization capital increases its information complexity and has an adverse effect on the accuracy of analysts' earnings. Using data on analysts' reports for U.S. firms, we find that analysts' forecasts are likely to be more biased and less accurate when they cover high organization-capital firms. Our results further indicate that analysts tend to issue more optimistic forecasts for firms with higher organization capital due to the uncertain and positive effect of organization capital on firm value. Overall, our findings suggest that a firm's organization capital is associated with analysts' bias and accuracy.
Publisher
ELSEVIER
Issue Date
2021-01
Language
English
Article Type
Article
Citation

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, v.71, pp.762 - 778

ISSN
1059-0560
DOI
10.1016/j.iref.2020.10.009
URI
http://hdl.handle.net/10203/280009
Appears in Collection
MT-Journal Papers(저널논문)
Files in This Item
There are no files associated with this item.
This item is cited by other documents in WoS
⊙ Detail Information in WoSⓡ Click to see webofscience_button
⊙ Cited 1 items in WoS Click to see citing articles in records_button

qr_code

  • mendeley

    citeulike


rss_1.0 rss_2.0 atom_1.0