Rational Expectations Test on Financial Analysts' Earnings Forecasts under Assumed Loss Functions

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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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Bibliographic Details
Main Author:	Chan, Wing Sum
Format:	Dissertation (University of Nottingham only)
Language:	English
Published:	2008
Subjects:	earnings forecasts rational expectations quadratic loss function linear loss fucntion OLS regression LAD regression
Online Access:	https://eprints.nottingham.ac.uk/22096/

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