On the Reliability of I/B/E/S Earnings Announcement Dates and Forecasts
AbstractWe add to the concerns raised in Ljungqvist, Malloy and Marston, 2009, Rewriting History, Journal of Finance, 64, 1935-1960, about the reliability of the I/B/E/S data provided by Thomson Reuters (TR). Many of the dates reported as earnings announcement dates are not earnings announcement dates; there are inconsistencies between these dates and those reported in Worldscope, another TR database; and summaries of financial analysts’ forecasts can be misleading. Following discussions with the authors, TR has reviewed approximately 2 million records and is in the process of correcting some 50,000 of them. Further reviews are under way.
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Bibliographic InfoPaper provided by Department of Economics, University of Bristol, UK in its series Bristol Economics Discussion Papers with number 09/611.
Length: 17 pages
Date of creation: Nov 2009
Date of revision:
I/B/E/S; Worldscope; earnings announcements; analysts’ forecasts;
Find related papers by JEL classification:
- G00 - Financial Economics - - General - - - General
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-21 (All new papers)
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