Security Price Reaction to Qualitative Forecast Infor Mation

N. A. Sinclair, V. A. Fatseas and K. T. Trotman
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N. A. Sinclair: Faculty of Economics & Commerce, The University of Melbourne.
V. A. Fatseas: Faculty of Commerce, The University of New South Wales.
K. T. Trotman: Faculty of Commerce, The University of New South Wales.

Australian Journal of Management, 1986, vol. 11, issue 2, 231-240

Abstract: This study extends previous studies on the infor Mation content of voluntary quantitative forecasts by examining a sample of Australian qualitative forecasts. Content analysis was used to classify these forecasts into four categories. The direction of the share price revision was consistent with the direction of the qualitative forecast for all categories, but only unfavourable and qualified favourable qualitative forecasts were associated with statistically significant and marginally significant price revisions respectively.

Keywords: QUALITATIVE FORECASTS; CAPITAL MARKET; CONTENT ANALYSIS (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:11:y:1986:i:2:p:231-240

DOI: 10.1177/031289628601100207

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