دانلود مقاله ISI انگلیسی شماره 50205
ترجمه فارسی عنوان مقاله

تجدیدنظر تحلیلگر از پیش بینی درآمد و تداوم رهایی از ضددامپینگ

عنوان انگلیسی
Analyst earnings forecast revisions and the persistence of antidumping relief ☆
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
50205 2007 17 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : International Review of Economics & Finance, Volume 16, Issue 3, 2007, Pages 383–399

ترجمه کلمات کلیدی
درآمد - ضد دامپینگ - تحلیلگران - تحقیقات - پیش بینی
کلمات کلیدی انگلیسی
F13; M41; G14Earnings; Antidumping; Analysts; Investigations; Forecasts
پیش نمایش مقاله
پیش نمایش مقاله  تجدیدنظر تحلیلگر از پیش بینی درآمد و تداوم رهایی از ضددامپینگ

چکیده انگلیسی

Panel corrected standard errors with instrumental variables and effects are invoked to assess the significance of earnings forecast revisions around critical dates in non-steel AD petitions filed in 1985–1987. These petitions were filed between two important US trade law revisions (1984 and 1988), and the period encompasses significant stock market advances and declines. Event studies have been invoked to assess the value of AD petitions. However, they do not estimate the temporal distribution of any abnormal returns. Because analysts make quarterly earnings forecast revisions over several horizons, we can assess the short and long run value of petitions. We find that AD petitions tend to depress earnings forecasts in the year of the petition. However, second year earnings forecasts tend to be revised upwards. There is no effect on five year (long term) earnings growth forecasts. Hence any benefits of protection do not persist. There is evidence that analysts anticipate the filing by revising forecasts in the three months in advance of the filing. We also find that AD petitions do not affect the accuracy of forecasts.