The Disparity Between Long-Term and Short-Term Forecasted Earnings Growth

• Main Authors: DA, Zhi, WARACHKA, Mitchell Craig
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2011
• 主題: Analyst forecasts; Return predictability; Finance and Financial Management; Portfolio and Security Analysis
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/3203; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4202/viewcontent/Disparity_LT_ST_forecasted_earnings_2009_sv.pdf
• 機構: Singapore Management University

We find the disparity between long-term and short-term analyst forecasted earnings growth is a robust predictor of future returns and long-term analyst forecast errors. After adjusting for industry characteristics, stocks whose long-term earnings growth forecasts are far above or far below their imp...