公平信息披露对证券分析师盈余预测分歧度的影响研究  

Empirical Study about the Influence from fair disclosure of information on earnings forecast'dispersion

作　　者：王东清[1] 李杰[1] 

机构地区：[1]中南大学商学院,湖南长沙410082

出　　处：《福建金融管理干部学院学报》2013年第3期3-9,共7页Journal of Fujian Institute of Financial Administrators

摘　　要：证券分析师在现代资本市场中扮演着会计信息使用者和提供者的双重角色,他们的行为对中小投资者和资本市场的效率都有着重要的影响。本文基于2003-2011年的分析师盈余预测数据,实证检验了《上市公司信息披露管理办法》的实施对分析师盈余预测分歧度的影响。研究结果表明:分析师盈余预测的分歧度在办法实施后显著下降了,但是这种趋势并没有随着实施时间的推移而逐步下降。Securities analysts have play the important roles of information processors ana disseminators, their behavior have a major impact on small investors and the market efficiency. Using a large sample of analysts＇ earnings forecasts from 2003-2011, this paper assesses the impact of regulation fair disclosure on the dispersion of analysts＇ earnings forecasts. The studied results show that analysts＇ forecast dispersion falls following the adoption of fair disclosure rules., But, this trend doesn＇t fall step by step with the time of regulation＇s implementation extended.

关 键 词：公平信息披露 证券分析师 盈余预测 分歧度 

分 类 号：F830.91[经济管理—金融学]