systematically bias their earnings forecasts. Taken together, both drivers explain about 42% of the variability in earnings forecast …We predict and find that revisions are driven by the same determinants as forecast errors. In addition to the intuitive … downward revision to compensate for the initial induced forecast optimism …

are unable to identify the management forecast bias, but that they unravel the bias subsequently as it is revealed. While … management forecast bias behavior is purely unintentional. Overall, our evidence suggests that managers issue biased forecasts … announcement – a practice referred to as the “bundling” of earnings information. We examine whether managers bias these forecasts …

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i … forecast revision consistency to convey information about bias in their earnings forecast revisions ….e., the extent to which analyst reports with earnings forecast revisions include stock recommendation and target price …

Using a value-weighted rather than an equally weighted regression, Easton and Sommers (2007) show that the upward bias … that the impact of any bias attributable to analysts' forecasts can be reduced to a statistically insignificant 0 ….4%. Second, we show that our estimates of the implied equity risk premium after removing the effect of this bias are between 3 …

The "home bias" phenomenon states that empirically, economic agents often under-utilize opportunities beyond their … country borders, and it is well-documented in various international pricing and purchase patterns. This bias manifests in the … than theoretically predicted to be optimal. Our paper documents another form of home bias, where market participants appear …