Wang, Fenghua; Ye, Qiang; Shi, Wen - 2023
-sectional anchoring bias (CAF) to describe the difference between consensus-forecast EPS and its industry median. Based on a fixed …). The effect is stronger when analysts are less knowledgeable. Meanwhile, current change of anchoring bias (ΔCAFt) can … negative. Generally, this study highlights the dynamic change process in analysts’ cross-sectional anchoring bias and the …