Essay on Determinants of Analysts’ Earnings Forecast Accuracy - Management Assignment Help

Assignment Task

Question
Essay on determinants of analysts’ earnings forecast accuracy.
Analysts’ earnings forecasts are considered as one of the most important outputs that analysts generate through their research. The topic of analysts’ earnings forecast accuracy continues to attract the interest of academic researchers despite the abundance of research findings generated over the course of the past four decades. This literature has identified numerous factors that can influence the accuracy of (or induce bias in) analysts’ earnings forecasts. These factors could be categorised into the following broad categories:
1. analyst-specific characteristics (e.g., analyst expertise, reputation, coverage, gender, etc.)
2. incentives and conflicts of interest due to analysts’ institutional setting (e.g., types of organisations they work for, management access, etc.)
3. characteristics of the firm that the analyst covers (e.g., firm size, complexity, country, industry, performance, company earnings/disclosure quality, etc.), or firm-level events (e.g., M&A)
4. impact of different/new corporate reporting standards/regulations (e.g., adoption of a new accounting standard, adoption of IFRS, adoption of Integrated Reporting, etc.)
5. impact of (and changes in) regulations related to analysts’ work (e.g., Reg FD, Global Analyst
Research Settlement, MiFID II, etc.)
6. Market-level events & conditions (e.g., Global Financial Crisis)

Required:
Prepare an essay that provides a critical discussion of relevant academic literature on the topic of analysts’ earnings forecast accuracy. Your discussion should cover ANY THREE of the above six categories of factors. Your essay should clearly state which three categories are being covered. You need to engage with academic literature to identify one or more specific factors related to each of your chosen categories, and discuss how and why these factors can impact analysts’ forecasts. You should aim to cite at least nine academic papers.

Learning Outcomes being assessed
1.Critically evaluate the complexities and challenges of equity research practice and professional actors in the market for information and equity research.

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