The purpose of this research was to examine the accuracy of consensus earnings forecasts for loss-making firms and non-loss-making firms listed on the JSE Securities Exchange South Africa (JSE) and to test whether systematic differences existed between the two groups.Other key areas studied were...

This study examines whether short-sellers and financial analysts develop complementary information about future earnings and returns and assesses whether investors can improve predictions made by each of these intermediaries using information provided by the other. The first main result is that...

Prior research has established that stocks with high dispersion of earningsforecasts or short interest are associated with low subsequent returns. Assumingdispersion of forecasts is a proxy for divergence of opinions and short interest is a proxyfor short selling constraints, these results have...