The impact of loss function assumptions in rational expectations tests on the efficiency of financial analysts' earnings forecasts

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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...

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Bibliographic Details
Main Author:	Su, Haochen
Format:	Dissertation (University of Nottingham only)
Language:	English
Published:	2008
Subjects:	earnings forecasts loss function assumptions
Online Access:	https://eprints.nottingham.ac.uk/22493/

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