differential persistence of the three cash flow components of earnings, defined by Dechow et al. , in forecasting annual earnings … components of earnings is at best a partial explanation for investors' bias. Practical implications – This study is important to …/value – The study is the first to document the weightings of the cash components of earnings by financial analysts. In addition …

the most recent forecast in the month before the earnings announcement. Design/methodology/approach – Cross … of analysts' forecasts as proxies for expected earnings in Australian research, this paper provides insights to what … measure of the market's earnings expectations. Originality/value – This paper provides direct evidence of the accuracy of …

differential persistence of the three cash flow components of earnings, defined by Dechow et al., in forecasting annual earnings … components of earnings is at best a partial explanation for investors' bias. Practical implications – This study is important to …/value – The study is the first to document the weightings of the cash components of earnings by financial analysts. In addition …

the most recent forecast in the month before the earnings announcement. Design/methodology/approach – Cross … of analysts' forecasts as proxies for expected earnings in Australian research, this paper provides insights to what … measure of the market's earnings expectations. Originality/value – This paper provides direct evidence of the accuracy of …

). Findings – After controlling for the firm's size, risk, earnings surprise, and industry, the results show that analysts become …