them. I find that negative management forecast surprises lead to a –5.9% abnormal return around the forecast and a 1 ….9% abnormal return and a –1.7% correction. The level of the stock market overreaction varies with the forecast and firm … characteristics, but the marginal impact remains the same: a 1% change in the stock market reaction around the forecast is associated …

forecasts. Yet bias does not necessarily invalidate a forecast, nor does it impinge on its relative quality. We find that …

In this paper, we examine analyst annual earnings forecast accuracy and dispersion for firms undertaking SEOs … underwriter for the SEO. We also study the change of forecast dispersion surrounding the filing of SEOs. Our sample includes all … firm and analyst characteristics. We relate forecast accuracy to analyst characteristics and to whether an affiliated …

the magnitude and direction of analysts' forecast revisions are positively associated with unexplained CEO compensation …, however. Analysts' forecast errors measured months after the DEF14A release are associated with past unexplained compensation …

forecast accuracy, and we show that teams are less accurate than individual analysts in general and their own individual team … team members in particular. Consistent with the notion that teams trade-off forecast accuracy for timeliness to comply with … a market research demand, we show that team forecast revisions are associated with larger market responses than those of …