We investigate the implications of recommendation-forecast consistency for the informativeness of stock recommendations … other. Defining a recommendation-forecast pair as consistent if both of them are above or below their existing consensus, we … find that 58.3% of recommendation-forecast pairs are consistent in our sample. We document that consistent pairs result in …

management earnings guidance. I find that both the forecast frequency of earnings guidance and the likelihood of issuing guidance …

forecast properties. The evidence shows that analysts' earnings forecast accuracy is higher and the forecast dispersion is … higher forecast accuracy and less forecast dispersion in the non-Big Five auditor sample but not in the Big Five auditor …

We consider forecast guidance as a mechanism that managers use to avoid negative earnings surprises. Modeling forecast … forecast guidance to avoid negative earnings surprises than managers in weak-investor-protection countries. We also show that … US managers are more prone to use forecast guidance to avoid negative earnings surprises than managers in other countries …

The state of the art in the analyst forecasting literature is that analyst earnings forecast ability is only firm … absence of a “spillover” effect, i.e., investors do not consider an analyst's earnings forecast ability regarding firm k when … reacting to his earnings forecast revision for firm j. We re-examine the issue of whether or not earnings forecast ability is …