...Sandra G. Schafhäutle; David Veenman ABSTRACT This study examines whether crowdsourced forecasts of earnings and revenues help investors unravel bias in earnings announcement news, which is commonly derived from analyst forecasts. Our results suggest that investors, on average, understand...

...Russell Jame; Stanimir Markov; Michael C. Wolfe ABSTRACT We examine how increased competition stemming from an innovation in financial technology influences sell-side analyst research quality. We find that firms added to Estimize, an open platform that crowdsources short-term earnings forecasts...