The Impact of CEO Turnover On Security Analysts Forecast Accuracy
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Keywords
CEO turnover, financial analysts earnings forecasts, Value Line
Abstract
This paper reports the results of a study on the impact of CEO turnover on the accuracy of financial analysts earnings forecasts. Using Value Lines earnings forecasts and a control sample design, the study reveals marginally more accurate earnings forecasts for CEO change firms after CEO turnover. This result may be attributed to the publicity surrounding the CEO replacements.
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