摘要
本文利用2008~2015年中国A股非金融业上市公司的数据,考察分析师的供应链行业知识对其盈余预测质量的影响,研究发现:具备供应链行业知识的分析师对跟踪公司盈余预测的信息质量更高;当公司对供应链行业的依赖程度较高、面临的信息不确定程度较高时,分析师供应链行业知识对盈余预测质量的提升作用更显著。进一步的研究发现,分析师供应链行业知识对盈余预测质量的提高作用是通过知识带来的熟练程度或经验实现的,并且这种提升作用在知识溢出效应较高的行业中表现更明显。
Based on a sample of A-share listed firms in China during 2008-2015,this paper investigates the impact of analysts’supply chain industry expertise on earnings forecasts’quality.The result shows that analysts with supply chain industry expertise provide earnings forecasts with higher information quality.Furthermore,the positive relationship between analysts’supply chain industry expertise and forecasts’quality is stronger when firms have more dependence on their suppliers/customers or when firms face higher information uncertainty.Further analysis shows that,supply chain analysts’positive impact is derived from the proficiency or experience acquired by supply chain knowledge,and it is more significant in industries in which knowledge spillover effect is more obvious.
作者
谢璇
王运陈
吴萌
XIE Xuan;WANG Yunchen;WU Meng(School of Management,Sichuan Agricultural University,Chengdu 611130,China;Postdoctoral Mobile Station of Business Administration,Fudan University,Shanghai 200433,China;School of Business,Sichuan Normal University,Chengdu 610101,China)
出处
《中南财经政法大学学报》
CSSCI
北大核心
2019年第5期53-63,159,共12页
Journal of Zhongnan University of Economics and Law
基金
国家社会科学基金项目“高管权力约束情景下国有企业党委治理功能实现路径与保障机制研究”(18CGL016)
四川省农村发展研究中心项目“乡村振兴视野下的农民专业合作社财务治理评价及政策优化研究”(CR1818)
关键词
分析师
供应链行业知识
预测准确度
预测乐观偏差
盈余预测
Analyst
Supply Chain Industry Expertise
Forecast Accuracy
Forecast Optimistic Bias
Earnings Forecasts’Quality
