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The Effect of the Fair Value Reporting Model on Analyst Forecast Properties: Evidence from Real Estate
Firms

STD 1.948 0.055 1.192 0.150 0.480 0.233 0.062 0.083 0.320 0.399 0.406 0.014 0.331 4.490 0.332

Combined Median 0.302 0.027 7.465 0.455 0.634 0.135 0.053 0.011 0.071 1.000 0.016 0.000 0.749 6.000 4.949

Table 2 Descriptive Statistics: Comparison between US and UK Firms 2002-2014
Mean 0.879 0.031 7.381 0.443 0.754 0.209 0.072 0.035 0.119 0.801 0.208 0.021 0.647 7.147 4.924

1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161 1,161
N

STD 1.580 1.254 0.121 0.427 0.200 0.059 0.096 0.365 0.493 0.500 0.011 0.315 6.641 0.288

Median 0.162*** 0.029 6.710*** 0.366*** 1.121*** 0.135** 0.073*** 0.010* 0.066** 0.000*** 0.017 0.000*** 0.077*** 7.000*** 5.052***

UKfirms

Mean 0.642*** 0.035 6.808*** 0.371*** 1.193** 0.185*** 0.094*** 0.040 0.100 0.394*** 0.462*** 0.020*** 0.268*** 9.756*** 5.030*** Notes: This table presents descriptive statistics for the variables in the main regressions. ***, **, and * denote statistical significance at the 1%,

N 312 312 312 312 312 312 312 312 312 312 312 312 312 312 312

STD 2.047 0.036 1.069 0.148 0.385 0.242 0.061 0.077 0.286 0.217 0.318 0.015 0.205 2.752 0.333 5%, and 10% levels, respectively, based on t-statistics (z-statistics) for differences in means (medians).

USfirms Median 0.367 0.027 7.613 0.479 0.528 0.135 0.049 0.012 0.072 1.000 0.016 0.000 0.821 6.000 4.911

Mean 0.966 0.029 7.591 0.470 0.592 0.217 0.064 0.033 0.125 0.951 0.114 0.022 0.787 6.188 4.885

849 849 849 849 849 849 849 849 849 849 849 849 849 849 849
N

Variable DISPERSION ROA SIZE LEV BM OTHER_A OTHER_L EPS_CHANGE GROWTH REIT DIVERSIFIED STD_RET PINT FOLLOW HORIZON

142