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 …

This paper examines the extent to which financial signaling affects the analysts' and managers' forecast releases. The … group). The paper further indicates that managers' forecast releases also depend on the type of the firm and that managers … adjust for managers' forecast biases and that is why may be misled by managers' forecasts. This provides evidence of …

Prior research on financial analyst' quarterly earnings forecasts has documented serial correlation in forecast errors …. This paper examines the way serial correlation in quarterly earnings forecast errors varies with firm and analyst … correlation in forecast errors is significant and seemingly independent of firm and analyst attributes, I model consensus forecast …