Reporting Errors in the I/B/E/S Earnings Forecast Database: J. Doe vs. J. Doe

16 Pages Posted: 23 Sep 2016 Last revised: 20 Oct 2017

See all articles by Tristan Roger

Tristan Roger

Université Paris-Dauphine, PSL Research University

Date Written: February 1, 2016

Abstract

This paper provides evidence of systematic errors in the way I/B/E/S reports analyst earnings forecasts. Analysis of the I/B/E/S earnings forecast database over the 1982-2014 period pinpointed a lack of consistency in the identification of financial analysts, a number of whom are consequently (1) identified by several different codes, and (2) erroneously attributed forecasts that were issued by namesakes. The present empirical investigation reveals that over 10% of the analyst codes in the database are subject to such reporting errors. These reporting errors impact the evaluation of analysts' characteristics, and may bias empirical studies that rely on tracking analysts.

Keywords: Financial analysts, earnings forecasts, I/B/E/S database, reporting errors, namesakes

Suggested Citation

Roger, Tristan, Reporting Errors in the I/B/E/S Earnings Forecast Database: J. Doe vs. J. Doe (February 1, 2016). Finance Research Letters, 20, February 2017. Available at SSRN: https://ssrn.com/abstract=2842307

Tristan Roger (Contact Author)

Université Paris-Dauphine, PSL Research University ( email )

Place du Maréchal de Lattre de Tassigny
cedex 16
Paris, 75775
France

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