Environmental Uncertainty, Analyst Forecasts and Investments Efficiency

This article analyzes the impact of analyst forecast accuracy on corporate investment efficiency by using data from listed companies in Shanghai and Shenzhen from 2012 to 2021. Additionally, the study examines the moderating effect of external environmental uncertainty on the relationship. The research reveals that analyst forecast accuracy can significantly enhance corporate investment efficiency. Moreover, the impact of analyst forecast accuracy on corporate investment efficiency is more significant in situations where the external environment uncertainty is higher. The study provides both theoretical and empirical support for improving the impact of analyst forecasting on corporate investment.