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Analysts' Forecasts Following Forced CEO Changes

Choi, Ka Wai; Chen, Xiaomeng; Wright, Sue; Wu, Hai (Steven)

Description

This paper examines analysts' earnings forecasts during the period of uncertainty following a change of chief executive officer (CEO). It distinguishes between forced and non-forced CEO changes, and examines whether analysts utilize their information advantage to reduce the heightened uncertainty of a forced change of CEO. Examining a sample of Australian companies followed by analysts between 1999 and 2009, we find that forecasting accuracy is lower and earnings forecasts are more optimistic...[Show more]

CollectionsANU Research Publications
Date published: 2014
Type: Journal article
URI: http://hdl.handle.net/1885/50065
Source: Abacus
DOI: 10.1111/abac.12026

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