喻园管理论坛2024年第38期(总第970期)

演讲主题: Mobile Internet and Analyst Forecast Performance

主 讲 人: Sterling Huang，新加坡管理大学会计学院副教授

主 持 人: 高茹，会计与财税系教授

活动时间: 2024年4月19日（周五）10:00-12:00

活动地点: 管院大楼105室

主讲人简介：

Sterling Huang，新加坡管理大学会计学院副教授、会计数据分析硕士联合项目主任、特许金融分析师持证人、澳大利亚特许会计师协会会员，主要研究领域是公司治理、高管薪酬、公司信息披露。近年来已在Journal of Accounting Research、The Accounting Review、Contemporary Accounting Research、Review of Financial Studies、Management Science、Strategic Management Journal等重要学术刊物上发表论文数篇，并担任Contemporary Accounting Research、Journal of Accounting and Economics、Journal of Accounting Research、The Accounting Review、Management Science、Organization Science等学术期刊编委。研究成果多次被主要媒体和从业者论坛引用，如Wall Street Journal、Thomson Reuters、Bloomberg 、INSEAD Knowledge、 Harvard Business Review等。

活动简介：

We study the impact of mobile internet technology on analyst forecast performance. Mobile internet facilitates uninterrupted access to various types of information and provides productivity tools for professionals. As such, it can help financial analysts gain immediate access to information and integrate it into their forecasts, leading to improved forecast timeliness. Mobile internet may also allow analysts to gather or receive additional information more promptly, improving forecast accuracy. Our tests utilize the rollout of 3G mobile internet in the U.S. and include both continuous treatment and sharp-increase differences-in-differences models, comparing forecast characteristics for a given firm-year across analysts with varying degrees of access to mobile internet. Results indicate that enhanced access to mobile internet results in significant improvements in analysts’ forecast timeliness and accuracy. We link these improvements empirically to the rollout of productivity apps, and confirm their effect with a tool particularly pertinent for analysts, the Bloomberg app.