This study examines the relationship between equity analysts and information asymmetry, and the extent of leakages in analyst recommendations. Literature suggests that analysts reduce information asymmetry by bringing privately held information to the market, and through superior analysis of...

This study examines the relation between information asymmetry and the cost of equity capital of firms listed on the Australian Securities Exchange. We calculate the ex ante cost of equity capital for constituent companies of the S&P/ASX 200 Index. The bid–ask spread of the companies is...

This study examines the relationship between equity analysts and information asymmetry, and the extent of leakages in analyst recommendations. Literature suggests that analysts reduce information asymmetry by bringing privately held information to the market, and through superior analysis of...

The employment of IBES (Institutional Brokers’ Estimate System) analysts’ earnings forecast consensus in capital markets research literature presupposes normality in per period, per firm distributions of analysts’ earnings estimates on the basis that: (i) the central limit theorem holds...