The effect of the characteristics of board and audit quality on financial analysts forecasts

• Main Authors: Wu, peishan, 吳佩珊
• Other Authors: Chiu, hsiu-ching
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/33523164667085001630

碩士 === 中國文化大學 === 會計學系 === 99 === In the prevalence of information today, analysts can give a more professional and the investing public with the information content of earnings estimate, as one of the important reference pointers (Li Yi Shou, 2001). When the level of corporate disclosure is better, it will reduce the analysts forecasts error and dispersion (Hope, 2003). And the independent board who has the financial background can reduce the level of earnings management effectively, not only to improve the reliability of financial reporting, but also have a significant positive effect to the performance of company (Defond, Hann, and Hu, 2005; Hsieh, 2004; Yeh, 2006). In this research, taking companies listed in Taiwan Security Exchange and OTC for instance to explore whether the board independence and board expertise and audit quality can reduce information asymmetry between company and financial analysts, and thus the forecast error of financial analysts become smaller. The sample period is from 2006 to 2009. The empirical result of this study is expected that the board independence and board expertise and audit quality can reduce financial analyst forecast errors.