This paper examines the question of how analysts forecast earnings. We examine the determinants of analysts? forecasts of both short and long run earnings. The paper is motivated by the importance of analyst forecasts as proxies for expected earnings, which is accompanied by a large literature...

This paper addresses the question of whether independent directors of the bidding firm are effective monitors during acquisitions and whether this effectiveness is impaired when the independent directors serve on multiple boards. The choice of the acquisition setting, where the board of...