paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the … increasing with time. Second, we find evidence that earnings expectations are not mainly based on analyst forecast in the first … (2010–2015) as analyst forecast better explain returns and exhibit greater relative information content. …

them. I find that negative management forecast surprises lead to a –5.9% abnormal return around the forecast and a 1 ….9% abnormal return and a –1.7% correction. The level of the stock market overreaction varies with the forecast and firm … characteristics, but the marginal impact remains the same: a 1% change in the stock market reaction around the forecast is associated …

increased market maker competition on the Nasdaq in the early 1990s, the SEC imposed several reforms in 1997 to decrease bid …-ask spreads and dealer rents. While prior research documents that this reform was successful in improving market maker competition … management forecast frequency relative to a set of firms unaffected by the regulation. Further, the firms that reduced disclosure …

empirical study has investigated the nexus between the analyst forecast dispersion (AFD) and excess returns surrounding stock …