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Výsledky projektu Reakce analytiků k vyhláškám zisků a finančním signálům

Výsledky

▼▲Typ výsledku ▼▲Autor celku ▼▲Název celku
(Celkem 1 zázn.)
Iuliia Brushko, The paper indicates that the analysts are non-Bayesian updaters and to some extend their forecast errors biases may be explained by the information processing difficulties (it is much harder to release a precise forecast in the situation of multidirectional signals) or behavioral biases (there might arise confusion upon getting signals of the different signs). The managers of the firms try to exploit these biases by releasing their own forecasts and tending to drive the analysts' forecasts, while the analysts realize the managers strategic effect and adjust for it. [Jiný výsledek]