Bae, Kee-Hong; Stulz, René M.; Tan, Hongping - In: Journal of Financial Economics 88 (2008) 3, pp. 581-606
This paper examines whether analysts resident in a country make more precise earnings forecasts for firms in that country than non-resident analysts. Using a sample of 32 countries, we find an economically and statistically significant local analyst advantage even after controlling for firm and...