Handbook of Frontier Markets

Chapter 9

Another Look at Financial Analysts’ Forecasts Accuracy: Recent Evidence From Eastern European Frontier Markets

A. Coën^*

A. Desfleurs^***    ESG-UQÀM, Graduate School of Business, University of Quebec in Montreal and Ivanhoe-Cambridge Real Estate Chair, Montreal, QC, Canada^**    School of Accounting, Faculty of Administration, University of Sherbrooke, Sherbrooke, QC, Canada

Abstract

Our main objective in this chapter is to shed light on financial analysts’ performance on Eastern European frontier markets during the past decade (2005–13). Considering the global financial crisis in 2008 as a potential breakdown, we focus on the quality and accuracy of analysts’ earnings forecasts. We are able to draw empirical comparisons with other Western ...