The effect of managerial forecasted financial statements on security analysts’ judgment

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Journal of Managerial Psychology

ISSN: 0268-3946

Online from: 1986

Subject Area: Human Resource Management

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Document Information:
Title:	The effect of managerial forecasted financial statements on security analysts’ judgment
Author(s):	Robert L. Webster, (Ouachita Baptist University, Arkadelphia, USA), T. Selwyn Ellis, (Ouachita Baptist University, Arkadelphia, USA)
Citation:	Robert L. Webster, T. Selwyn Ellis, (1998) "The effect of managerial forecasted financial statements on security analysts’ judgment", Journal of Managerial Psychology, Vol. 13 Iss: 1/2, pp.102 - 112
Keywords:	Decision making, Financial analysts, Financial statements, Forecasting
Article type:	Research paper
DOI:	10.1108/02683949810369165 (Permanent URL)
Publisher:	MCB UP Ltd
Abstract:	This emprical study surveyed 450 members of the New York Society of Security Analysts to determine the effect of management forecasted financial statements on their confidence in analyzing the financial condition of the film. A multivariate analysis of variance model was designed and hypothesis testing was conducted. The results demonstrated that the use of management forecasted financial statements increased the level of self-confidence that analysts reported concerning their financial analysis. This may indicate that the current historical-based model does not meet the needs of investors or creditors as well as would a new format including both historical and forecasted information.