extraverted CEOs. Increased forecast uncertainty leads to even stronger stereotyping. Additionally, personality similarity between …

is mainly strategic or whether it also contains an element of cognitive bias. Despite the fact that forecast errors lack … stock returns, our new tests based on selection bias (SB1 and SB2), in conjunction with an analysis of abnormal trading … volume, confirm the presence of both cognitive bias and strategic behaviour in analyst forecasts. This shows that, although …

firms and often issue several forecasts in a single day. We find that forecast accuracy declines over the course of a day as … closely with the consensus forecast, by self-herding (i.e., reissuing their own previous outstanding forecasts), and by … issuing a rounded forecast. Finally, we find that the stock market understands these effects and discounts for analyst …

This paper provides evidence of confirmation bias by sell-side analysts in their earnings forecasts. We show that … analysts tend to put higher weight on public information when the current forecast consensus is more consistent with their … earlier, or facing less dispersion in peer forecasts, tend to be more subject to confirmation bias, consistent with some of …

We investigate the causal impacts of air pollution on analyst forecast accuracy around earnings announcements. Using … significantly reduces analysts' earnings forecast accuracy in response to earnings announcements. Second, we introduce thermal …

We investigate whether the well-known positive association between past stock returns and analysts' earnings forecast … (EMH), we find that investors discount earnings forecast revisions by analysts who treat winners and losers differently …

Measuring the information environment of firms using analyst (price) forecast bias and forecast dispersion before … initial returns of initial public offerings (IPOs). We find the smaller the analyst forecast bias/dispersion, the lower the …

paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the … increasing with time. Second, we find evidence that earnings expectations are not mainly based on analyst forecast in the first … (2010–2015) as analyst forecast better explain returns and exhibit greater relative information content. …

predict that this reluctance allows each firm's conservative forecast to be heavily influenced by the firm's past performance …