Tests of the Usefulness of Analyst Earnings Forecast Data in Predicting Bankruptcy of Public Corporations
NPS-54-86-011.pdf (3.617Mb)Abstract
This study investigate five properties of earnings forecasts made by financial analysts to determine if systematic differences in these properties exists between failing and healthy firms. The five properties are: The level of forecasts, forecast error, forecast bias, forecast dispersion and revisions in forecasts. Measures reflecting the five properties are used in models to distinguish failing and healthy firms and predict future bankruptcy.
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This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.NPS Report Number
NPS-54-86-011Collections
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