This study investigates whether the properties of sell-side analysts' earnings forecasts are associated with the adverse macroeconomic conditions that exist at the time of their initial hire or major promotion. We find that analysts who begin their career in an economic recession are more...

This study examines the market response to confirming forecasts. Confirming management forecasts are voluntary disclosures by management that corroborate existing market expectations about future earnings. The study of confirming forecasts is important because it can provide evidence on the...

The primary objective of this study is to investigate the effect of prior and multiple restructuring charges on analysts? earnings forecasts. We investigate the effect of restructuring charges on analysts'forecasts by examining both forecast accuracy and dispersion. Chaney et al. (1999) provide...

This study classifies analysts' earnings forecasts as "herding" or "bold" and finds that (1) boldness likelihood increases with the analyst's prior accuracy, brokerage size, and experience and declines with the number of industries the analyst follows, consistent with theory linking boldness...

This paper presents evidence for international markets about the characteristics of financial analysts who are able to provide more accurate earnings forecasts than their peers. The evidence is provided for ten individual countries and for country groups formed on the basis of a similar culture...