The Relation Between a Prior Earnings Forecast by Management and Analyst Response to a Current Management Forecast.
研究管理层先前盈利预测的准确性是否影响分析师对当前管理层预测的信任度，通过回归分析发现管理层会基于先前预测建立预测声誉。
Abstract This paper investigates whether the accuracy of a prior earnings forecast by management serves as an indicator to analysts of the believability of a current management forecast. Regression analysis is used to examine the relationship between the usefulness of a prior forecast by management and analyst response to a current forecast, after controlling for other determinants of believability. The results suggest that management establishes a forecasting "reputation" based on prior earnings forecasts.