An Evaluation of Analyst Forecasts for Hong Kong Firms

Posted: 9 May 1998

See all articles by Bikki Jaggi

Bikki Jaggi

Rutgers, The State University of New Jersey - Rutgers Business School at Newark & New Brunswick

Rohit Jain

City University of Hong Kong (CityU) - Department of Accountancy

Date Written: Undated

Abstract

This study evaluates profit and Earnings Per Share forecasts for Hong Kong firms published in the Estimate Directory for financial years 1993 and 1994. The Findings of this study show that on an overall basis analyst forecasts in Hong Kong are more accurate than model forecasts. Similar to the results for US companies, forecasts for Hong Kong companies are also optimistic. Evaluation of the determinants of analyst forecast accuracy indicates that forecasts with shorter time horizons are more accurate than forecasts with longer time horizons and that forecasts for larger firms are comparatively more accurate than smaller firms.

JEL Classification: G12, G14, M41

Suggested Citation

Jaggi, Bikki and Jain, Rohit, An Evaluation of Analyst Forecasts for Hong Kong Firms (Undated). Available at SSRN: https://ssrn.com/abstract=2701

Bikki Jaggi (Contact Author)

Rutgers, The State University of New Jersey - Rutgers Business School at Newark & New Brunswick ( email )

100B Rockafeller Road
Piscataway, NJ 08854
United States

Rohit Jain

City University of Hong Kong (CityU) - Department of Accountancy ( email )

83 Tat Chee Avenue
Kowloon
Hong Kong
China

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