自Ball和Brown(1968)以及Beaver(1968)的开创性研究证明了会计盈余是有信息含量之后,大量学者遵循他们的范式研究了盈余等会计信息与股票价格之间关系。但从会计信息影响投资者决策的途径看,分析师对会计信息的加工处理是其中重要的环节,相对于其他方式的盈余预测,分析师的职能以及所具有的专业知识、经验等决定了分析师的盈余预测更具有优势。研究分析师盈余预测与股票价格之间存在的密切联系,能为有关股价的影响因素研究提供一种新的视角。 Since pioneering studies by Ball and Brown (1968) and Beaver (1968) have proved that accounting earnings are informative, a large number of scholars follow their paradigms to study the relationship between accounting information such as surplus and stock prices. However, from the perspective of accounting information affecting investors’ decisions, analysts’ processing and processing of accounting information is an important part of the analysis. Compared with other methods of earnings forecasting, analysts’ functions, professional knowledge and experience, analysts decide the analysis Division’s earnings forecast has more advantages. Studying the close relationship between analyst earnings forecast and stock price can provide a new perspective for the research on the influencing factors of stock price.