Adoption of IFRS and the Properties of Analysts’ Forecasts: The Brazilian Case

26 Pages Posted: 28 Sep 2012

See all articles by Antonio Lopo Martinez

Antonio Lopo Martinez

University of Coimbra; University of Salamanca - University of Salamanca, Faculty of Law, Students

Miguel Carlos Ramos Dumer

affiliation not provided to SSRN

Date Written: September 27, 2012

Abstract

Using data from Thomson Reuters I/B/E/S, we investigated the statistical properties of analysts’ quarterly earnings projections in the years around the adoption of IFRS in Brazil (2007 to 2011). Characteristics such as accuracy, bias and precision of analysts’ forecasts are useful in different situations. The results indicate that the accuracy improved with increased coverage and for more profitable firms. Univariate and multivariate tests did not indicate significant changes in the accuracy and bias of the forecasts in the years around the adoption of IFRS.

Keywords: Earnings forecast, analysts, accuracy, bias, IFRS

JEL Classification: G29, G39

Suggested Citation

Martinez, Antonio Lopo and Dumer, Miguel Carlos Ramos, Adoption of IFRS and the Properties of Analysts’ Forecasts: The Brazilian Case (September 27, 2012). Available at SSRN: https://ssrn.com/abstract=2153173 or http://dx.doi.org/10.2139/ssrn.2153173

Antonio Lopo Martinez (Contact Author)

University of Coimbra ( email )

University of Salamanca - University of Salamanca, Faculty of Law, Students ( email )

Salamanca, E37007
Spain

Miguel Carlos Ramos Dumer

affiliation not provided to SSRN ( email )

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