Recent studies associate management earnings forecasts (MEFs) with expectations management. These studies, however, neither provide evidence on the extent and scope of expectations management through MEFs nor consider alternative incentives for issuing MEFs. Consequently, existing evidence does...

This paper studies the effect of commercial bank affiliation on analysts' forecasts using the Korean data over the 2000-2015 period. We find that the median EPS forecast error of 2.88% made by independent analysts is significantly larger than the median error of 2.47% made by bank-affiliated...