Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS

Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS

We examine whether financial analysts’ forecast accuracy differs between the pre- and post- adoption ofAustralian Equivalents to the International Financial Reporting Standards (AIFRS). We find that forecastaccuracy has improved after Australia adopted AIFRS. As a secondary objective, this paper als...

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Bibliographic Details
Main Authors: Chee Seng Cheong, Mahmud Al Masum
Format: Article
Language:English
Published: University of Wollongong 2010-09-01
Series:Australasian Accounting, Business and Finance Journal
Subjects:
Analysts’ forecasts
AIFRS
Forecast errors
Intangible assets
Online Access:http://ro.uow.edu.au/aabfj/vol4/iss3/5
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spelling doaj-27617aa161f94c099be12755e8976c822020-11-24T22:23:56ZengUniversity of WollongongAustralasian Accounting, Business and Finance Journal1834-20001834-20192010-09-01436581Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRSChee Seng CheongMahmud Al MasumWe examine whether financial analysts’ forecast accuracy differs between the pre- and post- adoption ofAustralian Equivalents to the International Financial Reporting Standards (AIFRS). We find that forecastaccuracy has improved after Australia adopted AIFRS. As a secondary objective, this paper also investigatesthe role of financial analysts in reducing information asymmetry in today’s Australian capital market. We findweak evidence that more analysts following a stock do not help to improve forecast accuracy by bringingmore firm-specific information to the market.http://ro.uow.edu.au/aabfj/vol4/iss3/5Analysts’ forecastsAIFRSForecast errorsIntangible assets
collection DOAJ
language English
format Article
sources DOAJ
author Chee Seng Cheong
Mahmud Al Masum
spellingShingle Chee Seng Cheong
Mahmud Al Masum
Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS
Australasian Accounting, Business and Finance Journal
Analysts’ forecasts
AIFRS
Forecast errors
Intangible assets
author_facet Chee Seng Cheong
Mahmud Al Masum
author_sort Chee Seng Cheong
title Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS
title_short Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS
title_full Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS
title_fullStr Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS
title_full_unstemmed Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS
title_sort financial analysts' forecast accuracy : before and after the introduction of aifrs
publisher University of Wollongong
series Australasian Accounting, Business and Finance Journal
issn 1834-2000
1834-2019
publishDate 2010-09-01
description We examine whether financial analysts’ forecast accuracy differs between the pre- and post- adoption ofAustralian Equivalents to the International Financial Reporting Standards (AIFRS). We find that forecastaccuracy has improved after Australia adopted AIFRS. As a secondary objective, this paper also investigatesthe role of financial analysts in reducing information asymmetry in today’s Australian capital market. We findweak evidence that more analysts following a stock do not help to improve forecast accuracy by bringingmore firm-specific information to the market.
topic Analysts’ forecasts
AIFRS
Forecast errors
Intangible assets
url http://ro.uow.edu.au/aabfj/vol4/iss3/5
work_keys_str_mv AT cheesengcheong financialanalystsforecastaccuracybeforeandaftertheintroductionofaifrs
AT mahmudalmasum financialanalystsforecastaccuracybeforeandaftertheintroductionofaifrs
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