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Identifying Factors Consistently Related to Value Line Earnings Predictability

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  • Luttman, Suzanne M
  • Silhan, Peter A

Abstract

Earnings predictability can affect investment decisions and stock prices. An important source of earnings forecasts for a wide variety of empirical studies has been the "Value Line Investment Survey." The purpose of this study is to identify factors that consistently account for cross-sectional differences in "Value Line" earnings predictability. A multivariate model consisting of four company variables and a set of industry indicator variables is used to evaluate the intertemporal consistency of factors related to earnings predictability. Quarterly and annual forecasts are used to measure earnings forecast accuracy. The results by year indicate that one factor, earnings variability, is consistently related to earnings predictability. Copyright 1995 by MIT Press.

Suggested Citation

  • Luttman, Suzanne M & Silhan, Peter A, 1995. "Identifying Factors Consistently Related to Value Line Earnings Predictability," The Financial Review, Eastern Finance Association, vol. 30(3), pages 445-468, August.
    • Handle: RePEc:bla:finrev:v:30:y:1995:i:3:p:445-68
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    Cited by:

    1. Wen-Chuan Miao & Hsiou-Wei Lin, 2023. "Return On Equity Estimates And Fourquadrant Square Position: Evidence From Taiwan," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 17(1), pages 1-16.
    2. Coen, Alain & Desfleurs, Aurelie & L'Her, Jean-Francois & Suret, Jean-Marc, 2005. "Another look at factors explaining quality of financial analysts' forecasts: Evidence from the Asian emerging markets," Journal of Multinational Financial Management, Elsevier, vol. 15(4-5), pages 414-434, October.
    3. Mozes, Haim A., 2003. "Accuracy, usefulness and the evaluation of analysts' forecasts," International Journal of Forecasting, Elsevier, vol. 19(3), pages 417-434.

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