When did analyst forecast accuracy benefit from increased cross-border comparability following IFRS adoption in the EU?
Jirada Petaibanlue,
Martin Walker and
Edward Lee
International Review of Financial Analysis, 2015, vol. 42, issue C, 278-291
Abstract:
We examine the comparability benefits for analyst forecast accuracy following IFRS adoption in the EU. We argue that improvements in forecast accuracy are more likely to follow when IFRS implementation increases the number of closely relevant peer firms. To test this idea, we derive a firm-specific Expected Comparability Benefit (ECB) score as the number of industry-size matched foreign peers newly adopting IFRS.
Keywords: Analyst forecast accuracy; Comparable firms; Cross-border comparability; International Financial Reporting Standards (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:42:y:2015:i:c:p:278-291
DOI: 10.1016/j.irfa.2015.08.004
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