Top executives’ gender and analysts' earnings forecasts

Sudip Datta, Trang Doan and Mai Iskandar-Datta

Finance Research Letters, 2022, vol. 47, issue PA

Abstract: This study adds a behavioral dimension to the analysts’ earnings forecast literature by examining the effect of executives’ gender on forecast accuracy. We theorize that these gender-based behavioral differences can influence analysts’ forecast accuracy. Our research documents that the presence of female CEOs significantly improves analysts’ forecast accuracy across all firms, reflecting CEO's dominant position, while female CFOs have a positive influence on analyst forecast accuracy only for firms with greater information asymmetry. Overall, the evidence shows that analysts are able to draw more accurate assessment of the firm's prospects for corporations led by female executives.

Keywords: Analysts’ earnings forecasts accuracy; Executive gender trait differences; Earnings quality; Disclosure policies (search for similar items in EconPapers)
JEL-codes: G00 G41 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:47:y:2022:i:pa:s1544612322002197

DOI: 10.1016/j.frl.2022.102965

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