The Effect of Other Comprehensive Income Reporting on Analyst Forecasts——From the Perspective of the Characteristics of Enterprise Accounting Information Environment and the Cognitive Ability of Analysts
- 管理学院－已发表论文 
利用2009—2015年中国上市公司的分析师盈余预测数据,从分析师盈余预测准确度和分歧度两个角度,实证检验了其他综合收益会计信息披露的分析师盈余预测效应,考察了公司会计信息环境特征、分析师认知能力对该预测效应的影响。研究发现:其他综合收益会计信息披露与分析师预测准确度显著正相关,与分析师预测分歧度显著负相关;随着公司会计信息环境可比性及分析师认知能力的提高,分析师预测质量效应得到增强,说明其他综合收益的决策有用性受到市场参与者所处会计信息环境及其决策认知能力的影响。Using the data of analyzst earnings forecasts in Chinese listed companies during 2009 and 2015, this paper empirically examined the analyst earnings forecast effect of the accounting information disclosure of other comprehensive income, based on the ac- curacy and dispersion of analyst forecasts. Then we further investigated how the characteristics of enterprise accounting information environment and the cognitive ability of analysts influence above effect. The result showed that, the accounting information disclosure had a significantly positive correlation with the accuracy of analyst forecasts, while a negative cotTelation with the divergence of analyst forecasts. With the improvement of the comparability of accounting information disclosure and the cognitive ability of analysts, the mass effect of analyst forecasts was relatively enhanced. We concluded that, the usefulness of the decision on other comprehensive in- come was affected by the accounting infbrmation environment and the cognitive ability of market participants.