Top sportsmen often refer to competition against other top sportsmen as a motivation to exert more effort. We examine … changes in the information environment of the firms. Our results suggest that competition among stars has substantial effects …

This paper studies the effect of competition on analysts' forecast informativeness. I show that the impact of … competition on forecast informativeness is ambiguous in general, and identify the necessary and sufficient conditions under which … more intense competition can make forecasts less informative. If prior uncertainty is sufficiently high, analysts' payoff …