讲座题目：Long-term Analysis: Evidence from Analyst Reports

主讲人：谭红平，麦吉尔大学

时间：2022年12月9日(周五)上午9:00

地点：腾讯会议782 522 333

主办单位：武汉大学经济与管理学院会计系

讲座内容摘要：

Using textual analysis of long-term focus for a large sample of analyst reports for U.S. firms during 1996 to 2021, we find that reports with more long-term focus are more accurate and less optimistic in earnings forecasts. Market reactions to stock recommendations and textual tone increase with long-term focus. Long-term focused reports discuss more fundamental valuation parameters such as cash flows, growth rates, risks, and strategic plans. Further analysis shows that coverage by long-term focused analysts alleviates management pressure to take myopic corporate actions. Our findings justify the call for long-term equity analysis to increase the quality of analyst research.

主讲人简介：

谭红平(Hongping Tan)，麦吉尔大学(McGill University)会计和金融学教授，博士生导师。曾先后在加拿大约克大学商学院，加拿大滑铁 卢大学会计与金融学院，美国纽约州立大学布法罗校区，加拿大北BC省 大学(UNBC)商学院等学校任职。现任Contemporary Accounting Research编委会成员(2017-2020)，JIBS 编委会成员(2022-2025), Asia-Pacific Journal of Financial Studies和Financial Review副主编(2017年至今)。已在国际TOP期刊Journal of Accounting and Economics、Journal of Financial Economics、Journal of Accounting Research、The Accounting Review发表论文近十篇，是活跃在国际学术一线的著名会计学者。