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surprise resulting in "consensus forecast errors" whether long or short positions are taken …
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forecast horizon for up to 60 days after the announcement. We subject the model’s learning and out-of-sample performance to … range of variables, mostly fundamental ratios and forecast errors, is used to predict post-announcement returns. Third, we …
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Two ex-ante variables are introduced to characterize the analysts' biased behavior, namely the analysts' disagreement and self-selection in analysts' earnings forecasts. The study investigates the impact of the analysts' disagreement and self-selection on the stock returns. A theoretical...
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