The Impact of Mergers and Acquisitions on Earnings Predictability: An Examination of the Lodging Industry

Topics:
Lodging
Tags:
Cornell University,
Finance,
Financial Analyst,
Forecasting,
Industry,
Investment,
M&A,
Merger,
Mergers & Acquisitions
Source:
Cornell University

Vendor Registration: required

Overview: This paper examines the properties of analysts' forecast consensus after mergers and acquisition transactions in the hospitality industry. The issue of forecasting future earnings is an important one. Investors and financial analysts alike, focus on firms' earnings to make investment/valuation decisions, and in generating buy/sell/hold recommendations for the stock. The empirical evidence on a large sample of diversified mergers is that the forecast accuracy of financial analysts deteriorates after the merger transaction.

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Format: PDF | Size: 175KB | Date: Jan 2002 | Pages: 18

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