%0 Journal Article
%T Financial Analysts' Forecast Accuracy : Before and After the Introduction of AIFRS
%A Chee Seng Cheong
%A Mahmud Al Masum
%J Australasian Accounting Business and Finance Journal
%D 2010
%I University of Wollongong
%X We examine whether financial analysts¡¯ forecast accuracy differs between the pre- and post- adoption ofAustralian Equivalents to the International Financial Reporting Standards (AIFRS). We find that forecastaccuracy has improved after Australia adopted AIFRS. As a secondary objective, this paper also investigatesthe role of financial analysts in reducing information asymmetry in today¡¯s Australian capital market. We findweak evidence that more analysts following a stock do not help to improve forecast accuracy by bringingmore firm-specific information to the market.
%K Analysts¡¯ forecasts
%K AIFRS
%K Forecast errors
%K Intangible assets
%U http://ro.uow.edu.au/aabfj/vol4/iss3/5