TY  - JOUR 
TI  - Risk information disclosure and its impact on analyst forecast accuracy
JO  - Estudios gerenciales Vol. 36, No. 156 - 2020;
PB  - Universidad Icesi
PY  - 2020
issn 0123-5923
AB  - This paper aims to analyse the influence of risk information disclosure on the accuracy of financial analysts’ earnings forecasts for the Spanish stock market. To do this, we performed a regression analysis with panel data on a sample comprised of non-financial firms listed on the Madrid Stock Exchange from 2010 to 2015. The results of the study show that risk information disclosed by firms does not help to reduce analysts’ uncertainty levels nor enable them to make more accurate forecasts of future profits. Furthermore, separately testing verified and unverified risk information disclosure confirms that there is no relationship between the risk information disclosed and the perception that analysts have on companies’ levels of risk.

KW  - Información sobre riesgos
KW  - Precisión de los analistas
KW  - Riesgo
UR  - http://repository.icesi.edu.co/biblioteca_digital/handle/10906/86938
ER  -