with the magnitude of the bias in analysts' earnings forecasts. We posit that there is higher demand for non …

before the actual earnings announcement. The second one is the optimistic bias channel. The optimistic bias channel means … that the stock is overpriced if the investors do not correct the analysts' bias. The self-selection is negatively … correlated with the stock return through the optimistic bias channel as more self-selection means more optimistic bias as low …

analysts’ earnings forecast bias in Chinese multinational corporations. We find that analysts’ earnings forecast bias is … greater the bias in analysts’ earnings forecasts. Various methods, such as the Heckman two-stage least squares, propensity … bias. These findings have important implications for multinational corporations, analysts, and investors …

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i … forecast revision consistency to convey information about bias in their earnings forecast revisions …