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During times when the Chinese government wished to prop up the market, sell-side analysts from brokerages with significant government ownership issued relatively less pessimistic (or more optimistic) earnings forecasts, earnings-forecast revisions, and stock recommendations; they were also...
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Trueman [1994] provides a model of forecasting behavior in which analysts do not always make forecasts that are … sessions to investigate individual forecasting behavior. In each session, four individuals predict earnings based on possibly … forecasting behavior suggested by Trueman [1994]. …
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