This article documents the earnings response coefficient (ERC) for nonfinancial firms listed in the Middle East and North Africa region during the period between 2003 and 2013. Our results show significantly positive ERC for our sample firms. The results are robust across different countries and...

This study examines the relation between changes in portfolio composition of brokerage-owned mutual funds and earnings forecasts of sell-side analysts employed by the same firm. We find that these analysts are consistently optimistic for securities that represent new investments for their mutual...

We study the effects of company diversification and analyst diversification on consensus and individual analysts' earnings forecasts. Company diversification is measured both as the number of segments reported by a company and as an entropy measure which decomposes the total diversification into...