The Effect of SFAS No. 141 and SFAS No. 142 on the Accuracy of Financial Analysts' Earnings Forecasts after Mergers Page: 18
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environment. The final sample resulted in 28 matched pairs (56 firms) for the pre-SFAS
141, 142 environment and 20 matched pairs (40 firms) for the post-SFAS 141, 142
environment.
The total number of annual forecasts extracted from the IBES database for those
96 companies was 3499. In particular, I extracted 1786 annual forecasts for the 56
companies from the pre-SFAS 141, 142 environment. These forecasts of corporate
annual earnings for the year 1996 were issued between April 1, 1996 and December
31, 1996. I extracted 1713 annual forecasts for the 40 companies from the post-SFAS
141, 142 environment. These forecasts of corporate annual earnings for the year 2002
were issued between April 1, 2002 and December 31, 2002. I exclude from my sample
annual forecasts issued between January 1, 1996 and March 31, 1996 and annual
forecasts issued between January 1, 2002 and March 31, 2002 because annual reports
for the years 1995 and 2001, which reflected the merger, were still unavailable for
analysis during this first quarter.
Table 2 illustrates how forecasts for merging and non-merging companies are
presented in my sample for the pre-SFAS 141, 142 and the post-SFAS 141, 142
environments. Table 3 illustrates the different industries presented in my final sample
(based on the SIC division structure).18
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Mintchik, Natalia Maksimovna. The Effect of SFAS No. 141 and SFAS No. 142 on the Accuracy of Financial Analysts' Earnings Forecasts after Mergers, dissertation, May 2005; Denton, Texas. (https://digital.library.unt.edu/ark:/67531/metadc4731/m1/25/: accessed April 24, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; .