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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 … analysts’ competence are critical factors that moderate the relationship between international diversification and forecast …
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By obtaining a novel proprietary city-level panel dataset of stock returns and trading volume in China, this article …
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problem, or cognitive bias, which may be the result of erroneous heuristics. Furthermore, the author found that investor …
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partisan bias, which results in suboptimal forecasting behavior. In cross-sectional analyses, we find that this forecast over …Political science research finds that individuals exhibit partisan bias, which results in unduly favorable economic … expectations when their partisanship aligns with that of the US president. We examine whether partisan bias is present in …
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We examine whether fund managers overestimate carbon risk when they are exposed to local air pollution. We find that air pollution causes managers to underweight stocks of high-emission firms. The effects are stronger for less salient scopes of carbon emissions, among managers located in...
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mutual fund risk in China where pollution is among the most serious environmental concerns. Using propriety data manually …
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Using staggered climatic disasters in the U.S, we find that earnings forecasts by analysts who experienced a major climatic disaster become less accurate than those by the unaffected analysts within three months after the disaster due to distracted attention. Stock prices respond less strongly...
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