We study how career concerns influence banking analysts' forecasts. Banking analysts' first (last) earnings forecast of the year is relatively more optimistic (pessimistic) for a bank that could be their future employer. This pattern is not observed when the same analysts forecast earnings of...

Using a sample of 42,376 board directors and 10,508 security analysts we construct a social network, mapping the connections between analysts and directors, between directors, and between analysts. We use social capital theory and techniques developed in social network analysis to measure the...

We examine the impact of informational and social analyst team diversity on forecast performance. We find that informational diversity is associated with less timely forecasts, whilst it is associated with more accurate forecasts. These findings are consistent with the group dynamics literature...