This study examines whether the improvement in analyst forecast accuracy around mandatory IFRS adoption is associated with the improvement in the accuracy of financial statement-based forecasts. We find significant out-of-sample improvement in financial statement-based forecast accuracy around...

We find that individual analysts following the same firm and quarter forecast different underlying street performance metrics. Relative to analysts whose street forecast is based on generally accepted accounting principles (GAAP), analysts who forecast street earnings using a non-GAAP...

I/B/E/S is a common source of analyst earnings forecast data, and the reliability of these data is important for practice and academic research. Examining a common sample period, we compare annual earnings forecasts across two versions of the I/B/E/S detail file, one made available in 2009 and...

This study examines individual analyst forecast revisions of annual earnings to provide insight into “walkdown” behavior, in which analyst forecasts begin optimistic and walkdown over time to be pessimistic before the earnings announcement. We examine revisions of individual analyst...

Short-term earnings news is monitored by a wide variety of firm constituents; however, our understanding of the forces that facilitate or limit the speed of earnings anticipation is limited. I create a measure of speed – inspired by the price discovery literature – that captures how quickly...