Analytikers prognosprecision och redovisningsprinciper
Sammanfattning: This paper aims to investigate analyst forecast accuracy depending on accounting principles, by contrasting analyst estimates on investment property firms in Sweden (following IFRS and thereby applying fair value) and in the US (following US GAAP and thereby applying historical cost). We analyze three key metrics, NAV, EPS and EBITDA. The findings from our paper are suggestive, but not conclusive. We receive indications that NAV analyst forecast accuracy is higher for Swedish firms, while it is lower for EPS, in comparison with US firms. We also find that there is no general difference in forecast ability between the countries' analysts in terms of EBITDA, indicating that the differences in forecast accuracy for NAV and EPS depend on the accounting principles. The overall conclusions support previous findings, contrasting fair value and historical cost.
HÄR KAN DU HÄMTA UPPSATSEN I FULLTEXT. (följ länken till nästa sida)