Do analysts who understand accounting conservatism exhibit better forecasting performance?
研究发现，分析师若能使盈余预测修正的及时性与公司报告盈余的及时性相匹配，其预测更准确、市场反应更强、偏差更小、股票推荐更盈利，且职业前景更好。
Abstract This study investigates the performance of analysts when they match the asymmetric timeliness of their earnings forecast revisions (i.e., asymmetric forecast timeliness) with the asymmetric timeliness of firms’ reported earnings (i.e., asymmetric earnings timeliness). We find that better timeliness‐matching analysts produce more accurate earnings forecasts and elicit stronger market reactions to their forecast revisions. Further, better timeliness‐matching analysts issue less biased earnings forecasts, more profitable stock recommendations and have more favorable career outcomes. Overall, our results indicate that analysts’ ability to incorporate conditional conservatism into their earnings forecasts is an important reflection of analyst expertise and professional success.