Do Financial Analysts’ Forecasts About Market Quatations Prove to Be Correct? Evidence from Russia

13 Pages Posted: 21 Jun 2011

See all articles by Medvedeva Kristina

Medvedeva Kristina

Kazakhstan Branch of Moscow State University

Date Written: June 17, 2011

Abstract

The accuracy of financial analysts’ forecasts and recommendations is a key factor for the efficient operation of stock market. In order to determine if these predictions prove to be correct, 2783 recommendations about the stock prices of 9 Russian blue chip companies have been analyzed. According to the research it is concluded that the analytical recommendations mostly work well, and also the proportion of deviation predicted from the real stock prices has been determined. It has been also defined that the forecast accuracy differs in the types of recommendations and public companies. Influence of the last global financial crisis on the types and accuracy of given recommendations is considered.

Keywords: financial analysts, recommendations, forecasts, market quotations, stock market

JEL Classification: G24

Suggested Citation

Kristina, Medvedeva, Do Financial Analysts’ Forecasts About Market Quatations Prove to Be Correct? Evidence from Russia (June 17, 2011). Available at SSRN: https://ssrn.com/abstract=1866370 or http://dx.doi.org/10.2139/ssrn.1866370

Medvedeva Kristina (Contact Author)

Kazakhstan Branch of Moscow State University ( email )

Munaytpasov str., 7
Astana, 010010
Kazakhstan

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