本研究以中國2007年至2012年的A股上市公司為研究對象，探討管理當局能力與分析師盈餘預測行為的關係，預測行為迴歸模型以分析師追蹤人數、分析師盈餘預測準確性及預測離散程度三種特性進行分析。
研究結果發現，管理當局能力與分析師追蹤人數、盈餘預測精確度皆呈現顯著正相關，與預測離散程度則為負相關，但并不顯著。這表示經理人能力較好，則分析師對該公司之追蹤意願較高，且盈餘預測誤差與預測離散度較低。本研究藉此結果推論，管理當局能力愈佳之企業，經理人愈會提供品質良好、具可靠性的財務報導，故分析師將愈信賴該公司所提供之資訊，並可幫助分析師做出更精確之盈餘預測，並降低彼此間之預測誤差。

This study examines the relation between managerial ability and financial analysts’ earnings forecast behaviors in China from 2007 to 2012. We use several analysts’ attributes: number of analysts following, forecasts error, and forecasts dispersion.
According to the empirical results, in general, analysts tend to follow firms with more ability of managers, and managers with superior ability might decrease analysts’ forecast errors and the dispersion of analysts’ earnings forecasts.

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