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6.13会计系Seminar：Do Groups Outperform Individuals? Evidence from Earnings Forecasts
发布时间：2014-06-09
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主 题：Do Groups Outperform Individuals? Evidence from Earnings Forecasts
演讲人：曾建光 西南财经大学会计学院讲师
主持人：崔学刚 北京师范大学经济与工商管理学院教授
时 间：2014年6月13日（星期五） 上午9:00 - 11:00
地 点：后主楼1610会议室
演讲人简介：
曾建光,西南财经大学会计学院讲师，博士毕业于北京大学光华管理学院。在《经济研究》、《会计研究》、《金融研究》、《南开管理评论》、《中国会计评论》等期刊上发表论文十余篇论文；并有多篇英文工作论文参加了美国会计学会年会等重要国际会议。
内容简介：
Prior research on social psychology reports mixed evidence on whether groups outperform individuals while accounting studies suggest that the judgment and decision making quality of groups versus individuals be contingent on different performance dimensions. In this study, we investigate whether groups of sell-side analysts have better performance in making earnings forecasts than individual analysts. Using data from China where the number of analyst groups is comparable to that of individual analysts, we find that analyst groups make more accurate earnings forecasts than individual analysts while group and individual analysts do not differ significantly in their forecast timeliness. Further analyses document that analyst groups outperform individual analysts in forecast accuracy for forecasted firms of larger size, with higher institutional ownership, and followed by more analysts. Our findings imply that teamwork in making earnings forecasts enhances forecast accuracy without reducing forecast timeliness, especially when there is greater competition among sell-side analysts to satisfy information needs on the capital market.
演讲人：曾建光 西南财经大学会计学院讲师
主持人：崔学刚 北京师范大学经济与工商管理学院教授
时 间：2014年6月13日（星期五） 上午9:00 - 11:00
地 点：后主楼1610会议室
演讲人简介：
曾建光,西南财经大学会计学院讲师，博士毕业于北京大学光华管理学院。在《经济研究》、《会计研究》、《金融研究》、《南开管理评论》、《中国会计评论》等期刊上发表论文十余篇论文；并有多篇英文工作论文参加了美国会计学会年会等重要国际会议。
内容简介：
Prior research on social psychology reports mixed evidence on whether groups outperform individuals while accounting studies suggest that the judgment and decision making quality of groups versus individuals be contingent on different performance dimensions. In this study, we investigate whether groups of sell-side analysts have better performance in making earnings forecasts than individual analysts. Using data from China where the number of analyst groups is comparable to that of individual analysts, we find that analyst groups make more accurate earnings forecasts than individual analysts while group and individual analysts do not differ significantly in their forecast timeliness. Further analyses document that analyst groups outperform individual analysts in forecast accuracy for forecasted firms of larger size, with higher institutional ownership, and followed by more analysts. Our findings imply that teamwork in making earnings forecasts enhances forecast accuracy without reducing forecast timeliness, especially when there is greater competition among sell-side analysts to satisfy information needs on the capital market.