Bryggor - En studie av bryggors förekomst i publika bolag och påverkan på träffsäkerhet i analytikerestimat av EPS
Previous studies have shown that there is a relationship between voluntary disclosure and analysts' forecast accuracy. However, there has been no research conducted specifically on bridges. Bridges contain information on how components such as price, volume, foreign exchange rates and acquisitions have impacted the financial performance between two periods. The main purpose of this thesis is to investigate the usage of bridges in quarterly financial information of companies listed on Nasdaq Stockholm. We provide a descriptive mapping of bridges and find that 30 out of 268 companies are presenting bridges as a part of their voluntary disclosures, with large firms being the most frequent users. By using multiple regression models, we also examine whether bridges have an impact on forecast error and forecast dispersion. Our results suggest that the usage of bridges negatively affects forecast error (i.e. forecast error is reduced by the usage of bridges) whereas no statistical connection is found for dispersion.