The impact of loss function assumptions in rational expectations tests on the efficiency of financial analysts' earnings forecasts
Prior studies document that financial analysts' earnings forecasts are inefficient with respect to various information variables. All of these studies conduct tests based on the ordinary least squares (OLS) regression, which implicitly assumes that analysts face a quadratic loss function. Howev...
| Main Author: | |
|---|---|
| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2008
|
| Subjects: | |
| Online Access: | https://eprints.nottingham.ac.uk/22493/ |