Table 4 The impact of SPC on analyst forecast accuracy.
From: Consequences of firm-specific stock price crashes on analyst forecasts: Evidence from China
(1) | |
|---|---|
FERROR | |
CRASH | −0.571 |
(−0.535) | |
POST | 0.074** |
(2.352) | |
CRASH*POST | −0.186*** |
(−4.471) | |
SIZE | −0.468 |
(−1.446) | |
LEV | −0.615 |
(−0.883) | |
ROA | −16.017*** |
(−6.776) | |
INBOARD | 0.395 |
(0.959) | |
INDENP | 0.733 |
(0.519) | |
SHRCR | 0.008 |
(0.636) | |
INST | −0.579** |
(−1.982) | |
AUDITFEE | 0.075 |
(0.659) | |
SOE | −0.343 |
(−0.607) | |
COMMITTEE | 0.261 |
(1.010) | |
BIG4 | −0.040 |
(−0.163) | |
EXP | −0.001 |
(−0.657) | |
HORIZON | 0.061*** |
(12.919) | |
SPECIFIC | 0.000 |
(0.077) | |
TFOLLOWING | −0.000 |
(−1.370) | |
BSIZE | −0.011** |
(−2.085) | |
TEAM | −0.022** |
(−2.378) | |
_cons | 10.922 |
(1.421) | |
N | 56837 |
R2 | 0.647 |
Year | Yes |
Match | Yes |
