Institutional ownership and analysts’ earnings forecasts

Wenjun Liu and Aoyun Chen

Finance Research Letters, 2024, vol. 61, issue C

Abstract: This paper selects the data of China's A-share market from 2011 to 2022 to explore the impact of institutional shareholding on analysts’ earnings forecasts. The findings indicate the following: institutional shareholding enhances analysts’ earnings forecast accuracy and reduces analysts’ forecast optimism bias; institutions with small geodesic pits will be more helpful for analysts to improve the quality of earnings forecasts; and institutional shareholding improves the quality of analysts’ earnings forecasts by promoting the quality of firms’ information disclosure.

Keywords: Analyst earnings forecasts; Disclosure quality; Institutional ownership (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:61:y:2024:i:c:s1544612324000175

DOI: 10.1016/j.frl.2024.104987

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