Expectations, use and judgmental adjustment of external financial and economic forecasts: an empirical investigation

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dc.citation.epage37en_US
dc.citation.issueNumber1en_US
dc.citation.spage19en_US
dc.citation.volumeNumber28en_US
dc.contributor.authorGönül, S.en_US
dc.contributor.authorÖnkal D.en_US
dc.contributor.authorGoodwin, P.en_US
dc.date.accessioned2016-02-08T10:06:00Z
dc.date.available2016-02-08T10:06:00Z
dc.date.issued2009en_US
dc.departmentDepartment of Managementen_US
dc.description.abstractA survey of 124 users of externally produced financial and economic forecasts in Turkey investigated their expectations and perceptions of forecast quality and their reasons for judgmentally adjusting forecasts. Expectations and quality perceptions mainly related to the timeliness of forecasts, the provision of a clear justifiable rationale and accuracy. Cost was less important. Forecasts were frequently adjusted when they lacked a justifiable explanation, when the user felt they could integrate their knowledge into the forecast, or where the user perceived a need to take responsibility for the forecast. Forecasts were less frequently adjusted when they came from a well-known source and were based on sound explanations and assumptions. The presence of feedback on. accuracy reduced the influence of these factors. The seniority and experience of users had little effect on their attitudes or propensity to make adjustments.en_US
dc.identifier.doi10.1002/for.1082en_US
dc.identifier.issn0277-6693
dc.identifier.urihttp://hdl.handle.net/11693/22881
dc.language.isoEnglishen_US
dc.publisherJohn Wiley & Sons Ltd.en_US
dc.relation.isversionofhttp://dx.doi.org/10.1002/for.1082en_US
dc.source.titleJournal of Forecastingen_US
dc.subjectForecast qualityen_US
dc.subjectForecast sourceen_US
dc.subjectJudgmental adjustmentsen_US
dc.subjectEconomic forecastsen_US
dc.subjectEmpirical investigationsen_US
dc.subjectExternal-en_US
dc.subjectJudgmental adjustmentsen_US
dc.subjectForecastingen_US
dc.titleExpectations, use and judgmental adjustment of external financial and economic forecasts: an empirical investigationen_US
dc.typeArticleen_US

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