Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil

This research investigates if the accounting standard oriented to external users contributes to improve decision-making in the market, represented by analysts’ forecast capacity. The hypothesis is that the forecast properties for Brazilian companies’ EPS were not impacted by the change in the accoun...

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Autores principales:	Talyta Eduardo Oliveira, Antonio Carlos Coelho
Formato:	article
Lenguaje:	EN PT
Publicado:	FUCAPE Business School 2018
Materias:	market oriented accounting standard market analysts forecast accuracy precision and bias Business HF5001-6182
Acceso en línea:	https://doaj.org/article/5aea54bd61b04bc8acf0f64442b8bf24
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id	oai:doaj.org-article:5aea54bd61b04bc8acf0f64442b8bf24
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spelling	oai:doaj.org-article:5aea54bd61b04bc8acf0f64442b8bf242021-11-11T15:48:07ZMarket-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil1807-734X10.15728/bbr.2018.15.3.2https://doaj.org/article/5aea54bd61b04bc8acf0f64442b8bf242018-01-01T00:00:00Zhttp://www.redalyc.org/articulo.oa?id=123056425002https://doaj.org/toc/1807-734XThis research investigates if the accounting standard oriented to external users contributes to improve decision-making in the market, represented by analysts’ forecast capacity. The hypothesis is that the forecast properties for Brazilian companies’ EPS were not impacted by the change in the accounting standard. The data refer to the period 2004-2014; we employed linear multiple regression, estimated through panel data to investigate the accuracy and precision and logistic regression to scrutinize biases. Our findings indicated, with significance, that the analysts’ forecasts did not improve, thus, not rejecting the hypothesis. It was highlighted that in the convergence with the new accounting standard, the pessimistic bias was foregrounded, bringing forth analysts’ conservatism; the accuracy diminished with the new standard and the precision between periods was not altered. This research lacks depth, considering its low coefficients of determination, and in the sense of determining the causes of such behavior. An inquiry about the utilization of accounting information by analysts was also generated due to the magnitude of the forecast errors detected.Talyta Eduardo OliveiraAntonio Carlos CoelhoFUCAPE Business Schoolarticlemarketoriented accounting standardmarket analystsforecast accuracyprecision and biasBusinessHF5001-6182ENPTBBR: Brazilian Business Review, Vol 15, Iss 3, Pp 226-245 (2018)
institution	DOAJ
collection	DOAJ
language	EN PT
topic	market oriented accounting standard market analysts forecast accuracy precision and bias Business HF5001-6182
spellingShingle	market oriented accounting standard market analysts forecast accuracy precision and bias Business HF5001-6182 Talyta Eduardo Oliveira Antonio Carlos Coelho Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil
description	This research investigates if the accounting standard oriented to external users contributes to improve decision-making in the market, represented by analysts’ forecast capacity. The hypothesis is that the forecast properties for Brazilian companies’ EPS were not impacted by the change in the accounting standard. The data refer to the period 2004-2014; we employed linear multiple regression, estimated through panel data to investigate the accuracy and precision and logistic regression to scrutinize biases. Our findings indicated, with significance, that the analysts’ forecasts did not improve, thus, not rejecting the hypothesis. It was highlighted that in the convergence with the new accounting standard, the pessimistic bias was foregrounded, bringing forth analysts’ conservatism; the accuracy diminished with the new standard and the precision between periods was not altered. This research lacks depth, considering its low coefficients of determination, and in the sense of determining the causes of such behavior. An inquiry about the utilization of accounting information by analysts was also generated due to the magnitude of the forecast errors detected.
format	article
author	Talyta Eduardo Oliveira Antonio Carlos Coelho
author_facet	Talyta Eduardo Oliveira Antonio Carlos Coelho
author_sort	Talyta Eduardo Oliveira
title	Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil
title_short	Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil
title_full	Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil
title_fullStr	Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil
title_full_unstemmed	Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil
title_sort	market-oriented accounting standard and analysts’ performance: evidence from brazil
publisher	FUCAPE Business School
publishDate	2018
url	https://doaj.org/article/5aea54bd61b04bc8acf0f64442b8bf24
work_keys_str_mv	AT talytaeduardooliveira marketorientedaccountingstandardandanalystsperformanceevidencefrombrazil AT antoniocarloscoelho marketorientedaccountingstandardandanalystsperformanceevidencefrombrazil
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Market-Oriented Accounting Standard and Analysts’ Performance: Evidence from Brazil

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