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Prior research has shown improvements in analysts' forecast accuracy around various events (e.g. new disclosure … in analyst composition accounts for a significant improvement of 9.5 percent in analyst forecast accuracy. In addition …, we document that changes in both analyst ability and public information disclosure affect analyst forecast accuracy …
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This paper examines whether and how U.S. analysts contribute to an improvement in the home market information environment of foreign firms cross-listed in the United States. Comparing return and trading volume reactions to U.S. analyst recommendation revisions to local analysts' for cross-listed...
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Using recommendations and target prices on initial public offerings (IPOs), we examine the impact of regulations in the US and European Union (EU) markets that were aimed at curbing conflicts of interest in sell-side research. Conflicted analysts, proxied by whether their brokerage houses acted...
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bias, reacting more strongly to earnings forecast revisions of foreign analysts than to those of U.S. analysts …
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Using 719,830 analyst recommendations from 1994 to 2017, we construct various portfolios based on levels and changes in analyst recommendations and examine how the value of those recommendations in predicting the abnormal stock returns has changed over time. We find that the predictive value of...
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