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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/117543

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/117543

Title:	The Impact of Strategic Interaction on Earnings Expectations Associated with Corporate Product Strategies
Authors:	陳聖賢 Chen, Sheng-Syan Chen, Po-Jung Lin, Wen-Chun
Contributors:	財管系
Keywords:	Strategic interaction;Financial analyst;Forecast revision;New product strategy
Date:	2012
Issue Date:	2018-06-11 17:04:32 (UTC+8)
Abstract:	We examine how strategic interaction in an industry influences the earnings expectations of financial analysts with regard to new product strategies. We find that following announcement of new products, analysts revise earnings forecasts upward more for announcing firms competing in low-strategic interaction industries than for firms competing in high-strategic interaction industries. For value-enhancing (value-reducing) product strategies, earnings forecast revisions are more favorable for rivals competing under a high (low) degree of strategic interaction than for rivals competing under a low (high) degree of strategic interaction. Overall empirical evidence indicates that the nature of strategic competition within the industry is important in assessing the market expectations of earnings for new product announcers and their rivals.
Relation:	Journal of Banking and Finance, Vol.36, No.1, pp.66-77
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1016/j.jbankfin.2011.06.006
DOI:	10.1016/j.jbankfin.2011.06.006
Appears in Collections:	[財務管理學系] 期刊論文

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