| Summary: | 碩士 === 淡江大學 === 會計學系 === 92 === This study explores the effect of intangible assets to analyst’s earnings forecast accuracy and bias. At first, we analysis the effect of intangible assets to analyst’s earnings forecast properties by multiple regression. Second, intangible assets defined value by industry features and the domain of the study should be meaning in investigating industry features. Finally, we explore influence extent of intangible assets to analyst’s earnings forecast properties by using panel threshold which Hansen developed. The empirical results are as follows.
First, We find that research and development and advertising expenses are positively related to analyst’s forecast accuracy, and negatively related to analyst’s optimistic bias. We infer the result should be concerned with company disclosure frequency of the information related to intangible assets higher, and analyst get more the two kinds of the information related to intangible assets. Second, Other intangible assets are associated with less accurate and more optimistic analyst’s forecasts. Third, Intangible assets are the important factor for analyst’s forecast accuracy and optimistic bias in electron and electrical engineering industry. Finally, Among advertising, other intangibles, analyst’s forecast accuracy and bias exit threshold effect.
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