臺灣博碩士論文加值系統

儘管價格目標很普遍，但很少有研究調查分析師對價格目標意見的資格。 本文重點關注與目標價格偏差相關的因素，我們討論了金融領域的分析師是否會知道報告中對收益的應計操縱，並將理論結合在目標價格預測中。 為了揭示與分析師對目標價格預測相關的因素，我們考慮了基本投入和非基本因素在其推導中的作用，它們的準確性以及它們與未來回報的關聯。

Despite the general of price targets, few studies investigate the analyst’s qualification of price target opinions. This paper focus on the factors related to target price bias, we discuss if analysts in finance field will know the accrual manipulations on earnings in the report, and combine the theory in their target price forecasts. To shed light on factors associated with analysts’ forecasts of target price, we consider the roles that both fundamental inputs and non-fundamental factors play in their derivation, their accuracy and their association with future returns.

Table of Contents
Abstract 2
I. Introduction 3
II. Related Literature 5
III. Data and Research Methodology 7
1. Data 7
2. Measures of Target Price Bias 7
3. Measures of Earnings Management 8
4. Regression Analysis 11
IV. Empirical Results 13
1. Descriptive statistics 13
2. Variable correlation coefficient analysis 14
3. Regression analysis result 15
V. Conclusion 16
References 27

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