While analyst earnings forecasts are crucial earnings benchmarks in equity valuation, existing studies provide no consensus on whether the market rewards firms for beating analyst earnings expectations. Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over...

Using a large international sample of 24,293 observations from 3,991 unique firms in 56 countries, we examine the role of financial analysts in the relationship between voluntary corporate social responsibility (CSR) reporting and firm value. We find that after controlling for firms’ CSR...