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Determinants of Analysts' Forecast Accuracy: Empirical Evidence from Sweden
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
2017 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Bachelor Thesis, Program of Master of Business and Economics, 15 hp School of Business and Economics – Linnaeus University in Växjö 2FE30E:3 Spring, 2017

Authors: Sofie Areskoug and Niklas Karlén

Supervisor: Damai Nasution

Examiner: Natalia Semenova

Keywords: Financial Analyst, Gender, Determinants of forecast accuracy, Sweden

Background: The search of finding analysts who make the best forecasts has been an ongoing process since the 1930's. Determinants that can help predict the forecast accuracy of the analysts are in the interest of both investors and brokerage houses. Newer research in this area has taken gender of the analyst into consideration. Women are widely under-represented in the analyst occupation and there is evidence that investors are apprehensive toward women in the financial sector.

Purpose: The aim of this thesis is to examine determinants of forecast accuracy regarding analysts covering Swedish companies. The authors have confidence in the research to benefit investors in their decisions on the Swedish stock market. In addition, the authors aim to shed light on the unequal gender representation of female analysts.

Method: This thesis has examined 519 individual scores of forecast accuracy from 284 financial analysts covering stocks on the Swedish Index OMXS30. The forecasts are from the years 2016 and 2017. This study has a quantitative strategy and the data have been tested by an OLS estimates regression.

Results: The empirical evidence shows that being a female analyst have a statistically significant positive effect on forecast accuracy. Female analysts covering Swedish stocks seem to outperform their male colleagues. Furthermore, insignificant results were found for firm complexity, industry complexity, brokerage house and analyst experience.

Place, publisher, year, edition, pages
2017. , p. 58
Keywords [en]
Financial Analyst, Gender, Determinants of Forecast Accuracy, Sweden
National Category
Business Administration
Identifiers
URN: urn:nbn:se:lnu:diva-65947OAI: oai:DiVA.org:lnu-65947DiVA, id: diva2:1117368
Subject / course
Business Administration - Management Accounting
Educational program
Business Administration and Economics Programme, 240 credits
Supervisors
Examiners
Available from: 2017-06-29 Created: 2017-06-28 Last updated: 2017-06-29Bibliographically approved

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Bachelor Thesis, Areskoug and Karlen(1497 kB)125 downloads
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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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More styles
Language
  • de-DE
  • en-GB
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  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
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