n Investment Analysts Journal - Accuracy of brokers' consensus earnings forecasts : the South African case
|Article Title||Accuracy of brokers' consensus earnings forecasts : the South African case|
|© Publisher:||Taylor & Francis|
|Journal||Investment Analysts Journal|
|Author||C. Prayag and P. Van Rensburg|
|Publication Date||Jan 2004|
|Pages||21 - 30|
ISI Social Science
Extracted from text ... Accuracy of brokers' consensus earnings forecasts: The South African case 21 Accuracy of brokers' consensus earnings forecasts: The South African case 1. INTRODUCTION* In an extensive survey of hundreds of individual investors, institutional investors and financial analysts, Chang and Most (1979) find that earnings forecasts are considered by respondents in the United States to be the most important expectational data in selecting stocks. As, Givoly and Lakonishok (1984:1) remark, "No better proof exists for the important role that earnings play in financial markets than the handsome livelihood derived by many professionals from the production, analysis and forecasting of ..
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