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Analysts’ Forecast Accuracy in Germany:The Effect of Different Accounting Principles and Changes of Accounting Principles

Ernstberger, Jürgen and Krotter, Simon and Stadler, Christian (2008) Analysts’ Forecast Accuracy in Germany:The Effect of Different Accounting Principles and Changes of Accounting Principles. BuR: Business Research, 1 (1). pp. 26-53. ISSN 1866-8658

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    Abstract

    This paper assesses the influence of an adoption of IAS/IFRS or US GAAP on the financial analysts’ forecast accuracy in a homogenous institutional framework. Our findings suggest that the forecast accuracy is higher for estimates based on IFRS or US GAAP data than for forecasts based on German GAAP data. Moreover, in the year of switching from German GAAP to US GAAP the forecast accuracy is lower than in other years. The paper contributes to prior research by providing evidence about the usefulness of international accounting data and about the adoption effects of a change to such accounting principles.

    Item Type: Article
    Journal or Publication Title: BuR: Business Research
    Additional Information: Copyright © 2008, BuR-Business Research by VHB
    Uncontrolled Keywords: Accounting ; Adoption effect ; Analysts ; Analysts’ forecast accuracy ; Financial analysts ; German GAAP ; Germany ; HGB ; IAS ; IFRS ; IFRS adoption ; Learning effect ; US GAAP
    Subjects:
    Departments: Lancaster University Management School > Accounting & Finance
    ID Code: 50261
    Deposited By: ep_importer_pure
    Deposited On: 06 Oct 2011 17:01
    Refereed?: Yes
    Published?: Published
    Last Modified: 26 Jul 2012 19:37
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/50261

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