Lena Dominelli (United Kingdom), President 1996 - 2004

Professor Lena Dominelli is one of those people whose passion for social justice has made a significant difference to the lives of many people and to her profession, social work. If you have ever spent time with her, as I have done, you will know that she simply never stops. She has ideas for what must be done immediately to address current injustices and also proposes strategies for the long term. She takes action on the basis of her ideas, bringing in whoever might be able to help at a given moment on a particular issue. She draws you in with her unwavering optimism and her practical solutions and before long you find yourself in the midst of accomplishing what appeared to be impossible. A social worker par excellence.

Target Price Accuracy

This study analyzes the accuracy of forecasted target prices within analysts’ reports. We compute a measure for target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown) 12-month stock price. Furthermore, we determine factors that explain this accuracy. Target price accuracy is negatively related to analyst-specific optimism and stock-specific risk (measured by volatility and price-to-book ratio). However, target price accuracy is positively related to the level of detail of each report, company size and the reputation of the investment bank. The potential conflicts of interests between an analyst and a covered company do not bias forecast accuracy.