Rational Expectations Test on Financial Analysts' Earnings Forecasts under Assumed Loss Functions
Prior studies using ordinary least squares (OLS) regression find that financial analysts do not efficiently utilize public available information when making forecasts. The OLS-based tests implicitly assume that analysts face a quadratic loss function which aim to minimize their mean squared forecast...
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
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2008
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| Online Access: | https://eprints.nottingham.ac.uk/22096/ |