Research On The Influence Of Securities Analyst Characteristics On The Accuracy Of Earnings Forecast

Looking back at China’s capital market for nearly 30 years,from exploration to growth,from purity to complexity.Some people are financially free,some are ruined,some are taking risks,others are in the quagmire.In short,capital is the best product,and the most poisonous thing,making people love and hate,making people dream Wrap around.Looking back at the rivers that have passed through the past few years in China’s capital market,it is not difficult to find that China’s capital market is still weak and effective,and information asymmetry and other issues are fully present.Therefore,in order to make more reasonable investment decisions,investors should not rely solely on the information disclosed on the market to make comprehensive and accurate interpretations and judgments independently.This requires relying on professionals who have specialized analytical tools and high analytical skills.That is,a securities analyst to make an appropriate understanding and judgment of existing information.The personal traits considered in psychology are the theoretical basis for characterizing a person’s objective proposition of welcoming the external personality structure of the external world.The article explores in depth the differences in personal traits such as gender,academic level,years of employment,and reputation.The impact on the accuracy of its earnings forecast.Based on the analysis of related literatures at home and abroad,the article takes the A-share listed company on the Shenzhen Stock Exchange as an example,using the data samples from 2015 to 2017 for three years,using literature research,statistical analysis and empirical research.The method proposes the hypothesis of this paper,analyzes the relevant data,establishes the model and empirical test,and uses the forecasted average of the earnings per share deviation from the actual value to measure the accuracy of the analyst’s earnings forecast,and discusses the analyst’s personal characteristics to the earnings forecast.The impact of accuracy.In order to ensure the stability and consistency of the empirical results,this paper selects the metric of the corrected earnings prediction accuracy as the substitute dependent variable for the robustness test,and obtains the following conclusions:(1)Analyst gender has no significant impact on earnings forecast accuracy.(2)The higher the educational level of the securities analyst,the higher the accuracy of the earnings forecast.(3)The longer the life of a securities analyst,the higher the accuracy of earnings forecast.(4)Compared to ordinary analysts,star analysts’ earnings forecasts are more accurate.Finally,by analyzing the above conclusions,the article gives specific countermeasure suggestions from the perspectives of analysts themselves,information users and relevant regulatory authorities,not only expecting to help improve the accuracy of analysts’ earnings forecasts.It is hoped that the majority of investors can correctly recognize the advantages and disadvantages of the reports issued by analysts,and thus reference and use them objectively and rationally,and strive to make a small contribution to the orderly and healthy development of China’s securities market.