THE INFLUENCE OF RISK-ADJUSTED RETURNSON FINANCIAL ANALYST

• Main Authors: Febri Rahadi, 菲 比 力
• Other Authors: Huai-Chun Lo
• Format: Others
• Language: en_US
• Online Access: http://ndltd.ncl.edu.tw/handle/tqyn8u

碩士 === 元智大學 === 商學碩士班(財務金融學程) === 102 === This study examines the relationship between risk adjusted returns and analyst characteristics. I found that firm with better risk adjusted stock returns attract more analysts to provide research reports for investors. By following companies with better risk adjusted returns, an analyst may be able to save time and effort in collecting and processing information. The empirical results indicate that earnings forecasts are more accurate for firms with better risk adjusted stock returns. Moreover, I found that analyst pay more attention for better risk-adjusted stocks and revise earnings forecasts more frequently for them. The result confirmed that risk adjusted returns could determine the analysts’ performance.