macroeconomic forecasts are optimistic than non-optimistic, and whether this difference in analyst forecast optimism is stronger …. We also find that the long-horizon earnings forecast dispersion is lower in periods when the long-horizon macroeconomic … is no recession and macroeconomic forecast is optimistic are likely to have opportunistically biased their long …

significant government ownership issued relatively less pessimistic (or more optimistic) earnings forecasts, earnings-forecast …