학술저널
ACCURATE PREDICTION OF ANALYST FORECAST REVISIONS AND STOCK RETURNS IN THE EMERGING MALAYSIAN MARKET: EPS VERSUS NON-EPS VARIABLES
- People & Global Business Association
- Global Business and Finance Review
- Vol.8 No.1
-
2003.0661 - 75 (15 pages)
- 9
This paper examines the impact of accurate prediction of analyst forecast revisions of EPS and non-EPS variables un Malaysian stock prices. Investors who are able to predict accurately upward revision in forecast of P/E ratio could reap the largest cumulative abnormal return of 18. 34 percent per annum. The findings also support the superiority of accurate prediction of upward revisions in forecasts of P/E and cash flow per share over EPS. In contrast, investors who can predict accurately downward revision in EPS forecasts seem to outperform those who predict accurately similar revisions in non-EPS forecasts.
Abstract
INTRODUCTION
LITERATURE REVIEW
HYPOTHESES
DATA AND RESEARCH DESIGN
RESULTS
SUMMARY
REFERENCES
(0)
(0)