Influencia de la empresa en los errores de predicción de los analistas financierosun estudio meta-analítico

  1. García Meca, Emma
  2. Sánchez Ballesta, Juan Pedro
Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Año de publicación: 2005

Número: 127

Páginas: 823-848

Tipo: Artículo

DOI: 10.1080/02102412.2005.10779563 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: Revista española de financiación y contabilidad

Resumen

Dado el papel que juegan los analistas financieros en los mercados de capitales, es importante el conocimiento de los principales factores que influyen en los errores cometidos por éstos al emitir sus pronósticos de beneficios. Desde el rigor y objetividad de la técnica del meta-análisis, se han integrado cuantitativamente los resultados obtenidos en la literatura previa acerca de la asociación entre los errores de predicción de los analistas y la empresa objeto de valoración. Los resultados ponen de manifiesto que el tamaño, cobertura de analistas, calidad divulgativa, diversificación, volatilidad y cambio en beneficios de la empresa ejercen una influencia significativa sobre el error cometido por el analista en la emisión de sus pronósticos. Sin embargo, existe una fuerte evidencia de la existencia de efectos moderadores en estas asociaciones, pudiéndose afirmar que las medidas de error y variables independientes, el periodo temporal del estudio y los países incluidos en la muestra motivan la variabilidad en los hallazgos de los distintos estudios.

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