Business School, East China University of Political Science and Law, Shanghai, China
Analyst forecasts have important reference value for the behavior of capital market participants. This paper selects the relevant data of China's capital market to study the impact of the gender of securities analysts on the deviation of earnings forecast. The empirical results show that: first, the accuracy of analysts' earnings forecast is significantly related to their own gender; Second, the increase in the number of female analysts' forecasts will weaken the impact of gender differences on the accuracy of earnings forecasts; Third, considering the market situation, the impact of gender differences on analysts' prediction bias is more obvious in the bear market; Fourth, there is a strong gender difference in the accuracy of earnings prediction of analysts working in small securities companies, while there is no significant relationship between the accuracy of earnings prediction of analysts working in large securities companies and their gender. Its conclusion has important reference significance for analysts to improve their prediction accuracy and investors to rationally refer to the research report.
analyst; gender differences; prediction accuracy
Yan Wang. Gender Differences, Experience Accumulation, and Accuracy of Earnings Prediction among Securities Analysts. Academic Journal of Business & Management (2023) Vol. 5, Issue 17: 84-95. https://doi.org/10.25236/AJBM.2023.051714.
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