We investigate the implications of recommendation-forecast consistency for the informativeness of stock recommendations … other. Defining a recommendation-forecast pair as consistent if both of them are above or below their existing consensus, we … find that 58.3% of recommendation-forecast pairs are consistent in our sample. We document that consistent pairs result in …

We examine whether management earnings forecast errors exhibit serial correlation and how analysts understand the … serial correlation property of management forecast errors. Management forecast errors should not exhibit serial correlation … if managers efficiently process information in prior forecast errors and truthfully convey their earnings expectations …

when analysts forecast negative or large changes in EPS. We also compare the accuracy of a third forecast of longer …

The state of the art in the analyst forecasting literature is that analyst earnings forecast ability is only firm … absence of a “spillover” effect, i.e., investors do not consider an analyst's earnings forecast ability regarding firm k when … reacting to his earnings forecast revision for firm j. We re-examine the issue of whether or not earnings forecast ability is …

: forecasting accuracy, forecast bias, and forecasting efficiency. Analysts' data are based on I/B/E/S. Our analysis shows the rapid …

and improve at a slower rate during the forecast period. Further, cash flow forecasts appear to be a naïve extension of …

forecast properties. The evidence shows that analysts' earnings forecast accuracy is higher and the forecast dispersion is … higher forecast accuracy and less forecast dispersion in the non-Big Five auditor sample but not in the Big Five auditor …