Using a value-weighted rather than an equally weighted regression, Easton and Sommers (2007) show that the upward bias … that the impact of any bias attributable to analysts' forecasts can be reduced to a statistically insignificant 0 ….4%. Second, we show that our estimates of the implied equity risk premium after removing the effect of this bias are between 3 …

We show that understanding the role of analysts' forecast bias is central to discovering the behavior that causes some … dispersion contribute significantly to many important anomalies. We first explain how forecast bias produces significant negative … stocks to have high analyst forecast dispersion. This finding is important because stocks with high analyst forecast …

We evaluate six commonly used free cash flow metrics in terms of their accuracy, bias, and ability to predict value …