| Summary: | 碩士 === 國立彰化師範大學 === 商業教育學系 === 85 === The forecasting earnings information is the most
related information of the financial forecasting information
in the capital market. According to the study of
information content of the financial forecasting
information ,the forecasting earnings also has information
content. The forecasting earnings and the forecastingsales may
be announced at the same time,and the forecasting
earnings is the full statistic quantity of the
forecasting sales.Once the forecasting earnings is
announced, the forecasting sales will have no more
Incremental Information.
This research applies the Association Study Method to examine
the incremental information content of the forecasting
sales after the announcement of the forecasting
earnings.This study also compared the Nonparametric
Regression Model Approach and the Parametric Regression
Model Approach.The information content of the forecasting
earnings is checked by the use of the analysis of the
Nonparamentric Regression Model to work on the sensitivity
of variables association.
The results of the empirical analysis are:(1)the EPS forecasted
by the management has information content.(2)Once the
announcement of EPS is forecasted by the management ,the
announced the forecasting sales has no more
information content.(3)After using the Nonparametric
Regression Model Approach,the association between the unexpected
forecasting earnings and CAR has increased.
Keyword: Financial Forecasting
Earnings Response Coefficient
Nonparametric Regression
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