Do managers mimic rivals' forecast revisions Evidence from Japan

2021 ◽  
Vol 10 (2) ◽  
pp. 116
Author(s):  
Akihiro Yamada
Keyword(s):  
Forecast Revisions

Information Technology Capability, Management Forecast Accuracy, and Analyst Forecast Revisions

2018 ◽  
Vol 32 (3) ◽  
pp. 49-70 ◽  
Author(s):  
Feiqi Huang ◽  
He Li ◽  
Tawei Wang
Keyword(s):  
Forecast Accuracy ◽  
Analyst Forecast ◽  
Management Forecasts ◽  
Forecast Revisions ◽  
It Capability ◽  
Management Forecast ◽  
Prior Literature ◽  
Technology Capability ◽  
Information Technology Capability ◽  
The Relationship

SYNOPSISPrior literature has firmly established the relationship between IT capability and firm performance. In this paper, we extend the research in this field and investigate (1) whether IT capability contributes to management forecast accuracy, and (2) whether IT capability improves the informativeness of management forecasts and enhances the extent to which analysts incorporate management forecasts in their revisions. Using firms listed on InformationWeek 500 as our high IT capability group, we empirically demonstrate that firms with high IT capability are able to increase management forecast accuracy, and that analysts incorporate more information from management forecasts in their revisions if the firm has high IT capability.

scholarly journals Forecast revisions of Mexican inflation and GDP growth

2014 ◽  
Vol 30 (2) ◽  
pp. 177-191 ◽  
Author(s):  
Carlos Capistrán ◽  
Gabriel López-Moctezuma
Keyword(s):  
Gdp Growth ◽  
Forecast Revisions

scholarly journals Earnings Expectations during the COVID-19 Crisis*

2020 ◽  
Vol 10 (4) ◽  
pp. 598-617 ◽  
Author(s):  
Augustin Landier ◽  
David Thesmar
Keyword(s):  
Risk Premium ◽  
Earnings Forecasts ◽  
Earnings Expectations ◽  
Forecast Revisions ◽  
Asset Risk ◽  
Equity Values ◽  
Oxford University ◽  
Risk Free Rate ◽  
Published Paper ◽  
Free Rate

Abstract We analyze the dynamics of earnings forecasts and discount rates implicit in valuations during the COVID-19 crisis. Forecasts over 2020 earnings have been progressively reduced by 16%. Longer-run forecasts have reacted much less. We estimate an implicit discount rate going from 8.5% in mid-February to 11% at the end of March and reverting to its initial level in mid-May. Over the period, the unlevered asset risk premium increases by 50bp, the leverage effect also increases by 50bp, while the risk free rate decreases by 100bp. Hence, analysts’ forecast revisions explain all of the decrease in equity values between January 2020 and mid-May 2020. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.

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