Empirical Research Of Financial Analyst Earnings Forecast Accuracy

Financial Analyst securities companies and investors is an important hubbetween its earnings forecast information provided has a vital role and significance.This information can help the investors, the debte and other information userestimate the company’s future status, and help them make decision. So analyst’searning forecast is useful accounting information. Because of the importantusefulness of analyst earning forecast, the behavior of analyst earning forecastbecome a important object of stock market.This paper draws on the earnings management theory and lessons from thedomestic and foreign research results. Firstly, analyze and summary relevantresearch results of previous scholars, points out the shortage of the profit forecastresearch, and analyses the main reasons. Secondly, In this paper, using RESSET、WIND and Google finance,2009-2011ShanghaiA-sharelisted companies in themanufacturing sector and Chinese companies listed on Nasdaqas the research sample,through descriptive statistics and regression model was established on the accuracyof earnings estimates for the empirical research. The research finds that financialanalysts’ earnings forecast accuracy is still relatively low in our county, finds andanalyzes the impact of factors related to the accuracy of earnings estimates. Theresulting research to improve the efficiency of the securities market information andprotection of the interests of investors have important practical significance.