forecast when actual earnings exceed the consensus and the most pessimistic forecast when the consensus exceeds actual earnings …

' earnings forecasts. We show that measures of prior consensus and individual analyst forecast pessimism are predictive of both … with a relatively high probability of forecast pessimism experience significantly higher announcement returns than those … difficulty investors have in identifying differences in expected forecast pessimism. Overall, we conclude that market prices do …

forecast disclosure only accrue to bidders with a strong forecasting reputation prior to the acquisition. Explaining why not … all bidders forecast, we document a higher likelihood of post-merger litigation and CEO turnover for bidders with a weak …

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i ….e., the extent to which analyst reports with earnings forecast revisions include stock recommendation and target price … revisions consistent in sign with the earnings forecast revisions, the sign of which is the sign of earnings forecast revision …

the stock return volatility, first, at the release of a management earnings forecast, and second, at the eventual … surrounding a management earnings forecast for those firms who release them compared to a matched-firm sample of firms without a … management earnings forecast at that date, and then further examines that result based on different forecast antecedents and …