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Rationality and analysts' forecast bias

Article Abstract:

This article uses a quadratic-loss utility function to model corporate earnings forecasts, using trade off bias to improve forecast accuracy and management access. Results suggest that predictable and positive bias may be a rational part of optimal earnings forecasts.

Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2001

Analysis, Economic aspects, Profits, Economic forecasting, Financial analysis, Corporate profits, Rationing

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The economic value of volatility timing

Article Abstract:

This article examines whether volatility models have explanatory power and economic value, by using conditional mean-variance analysis. Results show that volatility timing strategies are more successful than unconditionally efficient static portfolios.

Author: Fleming, Jeff, Kirby, Chris, Ostdiek, Barbara

Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2001

Economics, Research and Development in the Social Sciences and Humanities, Statistical Data Included, Value (Economics)

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Subjects list: Evaluation

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