Research On The Impact Of Intangible Assets Information On Analysts’ Forecasts

With the advent of the knowledge economy era, the focus of value creation has begun to shift from tangible to intangible assets, the economic value in today’s society no longer just be the result of material elements produced by more than the value of intangible assets from creation. For intangible value creation increasingly important role in the information disclosure of intangible assets has become the focus of attention of the capital market, however, the measurement system and the existing financial accounting standards based on the principles of conservatism, do not tend to reflect all of the intangibles in the balance sheet, the information disclosure of intangible assets there is a serious problem of asymmetric information and inadequate, intangible assets related to the disclosure of information and usefulness has been questioned.In this context, this paper based on the theory of financial disclosures, from the perspective of securities analysts to study the effects of information disclosure of intangible securities analyst earnings forecasts. Firstly, through information disclosure of intangible assets, financial disclosures, literature review and theoretical analysis Securities analyst earnings forecast, the effects of information disclosure of intangible securities analyst earnings forecasts, and were discussed intangible information disclosure on securities analysts forecast earnings follow, earnings forecast accuracy and impact earnings forecast dispersion is proposed on the basis of theoretical analysis of this research hypothesis and select GEM listed companies empirical data, results of this study show that:intangible information the adequacy of disclosure and securities analyst earnings forecast to follow, earnings and earnings forecast dispersion prediction error negative correlation, which is more adequate information disclosure of intangible assets, the fewer the number of securities analysts following the earnings forecast, securities analyst earnings forecast error more small, securities analysts predict differences between smaller.In this paper, the information disclosure of intangible assets, securities analysts forecast earnings related research were summarized and summarized in a detailed theoretical analysis of the impact of information disclosure of intangible securities analyst earnings forecasts and the first GEM listed companies as samples empirical test, the conclusions of this paper, the company’s management, securities analysts, investors, and financial reporting standards setting bodies have certain reference value.