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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Analysts’ Forecast Accuracy in Germany
T2 - The Effect of Different Accounting Principles and Changes of Accounting Principles
AU - Ernstberger, Jürgen
AU - Krotter, Simon
AU - Stadler, Christian
N1 - Copyright © 2008, BuR-Business Research by VHB
PY - 2008/5
Y1 - 2008/5
N2 - 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.
AB - 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.
KW - Accounting
KW - Adoption effect
KW - Analysts
KW - Analysts’ forecast accuracy
KW - Financial analysts
KW - German GAAP
KW - Germany
KW - HGB
KW - IAS
KW - IFRS
KW - IFRS adoption
KW - Learning effect
KW - US GAAP
M3 - Journal article
VL - 1
SP - 26
EP - 53
JO - BuR : Business Research
JF - BuR : Business Research
SN - 1866-8658
IS - 1
ER -