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Keywords: earnings forecastsClose
The Accounting Review (2023) 98 (3): 459–486.
Published: 01 May 2023
... to management recommendation revisions earnings forecasts general analyst characteristics Financial analysts are well positioned to contribute to the price discovery process by acquiring information and conveying their research to investors. Research has examined a number of analyst characteristics...
The Accounting Review (2022) 97 (4): 187–207.
Published: 01 July 2022
... are set closer to analyst forecasts when analysts have historically issued more accurate earnings forecasts. These results are robust to firm fixed effects and an instrumental variable approach. Further, we find that, following a plausibly exogenous decline in the availability of analyst earnings...
The Accounting Review (2019) 94 (5): 247–272.
Published: 01 September 2019
...-based fixed-effect difference-in-differences design, we find that the treated firms tend to make fewer (more) management earnings forecasts relative to the control firms when they expect litigation risk to be lower (higher) following the legal event. The results are concentrated on the earnings...
Includes: Supplementary data
The Accounting Review (2019) 94 (2): 29–52.
Published: 01 March 2019
... price target revisions, and (3) future quarter earnings forecast revisions all predict error in the CQE forecast. We document several reasons analysts sometimes omit information from the CQE forecast: to facilitate beatable forecasts by suppressing positive news from the CQE forecast, to herd toward...
The Accounting Review (2019) 94 (1): 183–203.
Published: 01 January 2019
... not represent in any way the views of Cornerstone Research or Stanford Law School. Editor's note: Accepted by Mark T. Bradshaw, under the Senior Editorship of Mark L. DeFond. June 2014 April 2018 2019 litigation security analysts information environment earnings forecasts...
The Accounting Review (2016) 91 (4): 995–1021.
Published: 01 July 2016
...Mark T. Bradshaw; Lian Fen Lee; Kyle Peterson ABSTRACT The within-year walkdown of analysts' earnings forecasts has largely been attributed to analysts' incentives to curry favor with managers. We appeal to cognitive psychology literature on motivated reasoning and propose that forecasting...