regarding rating accuracy and rating theory. The implications of the results for equity valuation are discussed. …

via its impact on stock return synchronicity.We then examine if the difference between forecast and observed earnings for …

Variance after-effect is a perceptual bias in the dynamic assessment of variance. Experimental evidence shows that … construct a proxy of the adjustment factor using the sequence of dispersion of analysts earnings forecast. We provide empirical …

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 …

We examine whether the properties of earnings forecasts – bias and dispersion are different across periods when … macroeconomic forecasts are optimistic than non-optimistic, and whether this difference in analyst forecast optimism is stronger … the macroeconomic forecasts are optimistically biased as well, and the bias is more pronounced during periods of recession …

market impact. We find a strong empirical evidence of the preeminence of this bias for Momentum stocks rather than blue …