Prior research on financial analyst' quarterly earnings forecasts has documented serial correlation in forecast errors. This paper examines the way serial correlation in quarterly earnings forecast errors varies with firm and analyst attributes such as the firm's industry and the analyst's...

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i.e., the extent to which analyst reports with earnings forecast revisions include stock recommendation and target price revisions consistent in sign with the earnings forecast...