The Impact of Intangibles on Property of Analysts’ Forecasts

• Main Authors: Yi-Fang Su, 蘇怡芳
• Other Authors: Shou-Min Tsao
• Format: Others
• Language: zh-TW
• Published: 2006
• Online Access: http://ndltd.ncl.edu.tw/handle/00347215395138546137

碩士 === 國立中央大學 === 企業管理研究所 === 94 === This research examines the association between firms’ intangibles and analysts’ forecasts. This is for realize the impact of intangible expense and capital on properties of the information in analysts’ earnings forecasts. This research will use as Barron, Kim, Lim and Stevens（1998）model, to examine the properties of the information contained in analysts’ earnings forecasts, focus on two dependent variables: Consensus and squared error in individual forecasts averaged across analysts and the squared error in the mean forecast. The empirical result indicates that lower degree of consensus and higher forecast error exists among for high-intangible firms than low-intangible firms.