Proceedings of the 6th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2020)

Do the Stock Exchange Comment Letters Affect the Accuracy of Analysts’ Earnings Forecasts?

Authors
Rongrong Chen, Yuanhui Li
Corresponding Author
Rongrong Chen
Available Online 23 January 2021.
DOI
10.2991/assehr.k.210121.123How to use a DOI?
Keywords
Comment letters, Accuracy, Analysts’ earnings forecasts
Abstract

The economic consequences of stock exchange comment letters have received widespread attention, but empirical studies based on analysts’ perspective are scarce. Through theoretical analysis and empirical testing, this paper finds that the accuracy of analysts’ earnings forecasts of enterprises issued with comment letters is lower than that enterprises not consulted. Moreover, the more times the inquired enterprises received the comment letters in a year, the lower the accuracy of analysts’ earnings forecasts will be. This paper expands the research on the economic consequences of stock exchange comment letters from the perspective of analysts, which can provide more valuable information for analysts to forecast.

Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 6th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2020)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
23 January 2021
ISBN
10.2991/assehr.k.210121.123
ISSN
2352-5398
DOI
10.2991/assehr.k.210121.123How to use a DOI?
Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Rongrong Chen
AU  - Yuanhui Li
PY  - 2021
DA  - 2021/01/23
TI  - Do the Stock Exchange Comment Letters Affect the Accuracy of Analysts’ Earnings Forecasts?
BT  - Proceedings of the 6th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2020)
PB  - Atlantis Press
SP  - 613
EP  - 617
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.210121.123
DO  - 10.2991/assehr.k.210121.123
ID  - Chen2021
ER  -