This paper focuses on the investment value of information contained in the tails of the analyst forecast distribution …

empirical study has investigated the nexus between the analyst forecast dispersion (AFD) and excess returns surrounding stock …

paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the … increasing with time. Second, we find evidence that earnings expectations are not mainly based on analyst forecast in the first … (2010–2015) as analyst forecast better explain returns and exhibit greater relative information content. …

(integrated) production of information. Nonetheless, this paper documents significant stock return and forecast revision …

them. I find that negative management forecast surprises lead to a –5.9% abnormal return around the forecast and a 1 ….9% abnormal return and a –1.7% correction. The level of the stock market overreaction varies with the forecast and firm … characteristics, but the marginal impact remains the same: a 1% change in the stock market reaction around the forecast is associated …

analyst effort (proxied by analyst coverage) and expertise (proxied by consensus cross-analyst forecast variability) affect … forecast accuracy more significantly for shares traded by foreign investors than for shares traded by local investors …. Additionally, I find that the relation between analyst characteristics and relative forecast accuracy is stronger for shares traded …