| Article ID: | iaor1993560 |
| Country: | Netherlands |
| Volume: | 50 |
| Issue: | 1 |
| Start Page Number: | 19 |
| End Page Number: | 21 |
| Publication Date: | Jan 1991 |
| Journal: | European Journal of Operational Research |
| Authors: | Guerard John B., Stone Bernell K., Hansen Glen |
| Keywords: | forecasting: applications |
The purpose of this note is to examine the effectiveness of security analysts’ forecasts diversified sample of 159 firms with a 1980-1982 post-sample estimation period. The results of this study indicate the analysts’ forecasts produce statistically significant excess returns.