expected in stock prices and actual forecast errors are limited to certain cases. Aanalysts expedite the propagation of …

aspect of this research paradigm by examining investor response to analyst forecast revisions using accounting restatements … convey about forecast accuracy inrestatement firms than in non-restatement firms. The evidence also suggests that the level … analysis demonstrates that the innovation in forecast revisions also affects the association between investor response and …

We correlate analysts' forecast errors with temporal variation in investor sentiment. We find that when sentiment is … “uncertain” or “difficult to value” firms. Adding these forecast errors to a regression of stock returns on sentiment absorbs a …

We test the implications of anchoring bias associated with forecast earnings per share (FEPS) for forecast errors … more positive forecast revisions, more negative forecast errors, and more negative earnings surprises after a stock split …

' earnings forecasts. We show that measures of prior consensus and individual analyst forecast pessimism are predictive of both … with a relatively high probability of forecast pessimism experience significantly higher announcement returns than those … difficulty investors have in identifying differences in expected forecast pessimism. Overall, we conclude that market prices do …

implications for analysts' forecast errors conditioned on the errors being positive and negative. We then use proxies for positive …

are relatively more pessimistic than the consensus forecast. This effect is stronger when the analyst is closer to the …