We investigate the implications of recommendation-forecast consistency for the informativeness of stock recommendations … other. Defining a recommendation-forecast pair as consistent if both of them are above or below their existing consensus, we … find that 58.3% of recommendation-forecast pairs are consistent in our sample. We document that consistent pairs result in …

We substantially improve cross-sectional earnings forecast models, such as Hou, van Dijk, and Zhang (2012), by …

analysts. After controlling for the distance to the nearest forecast, our evidence shows that firms are more likely to beat an … incremental forecast with a decrease in ETR compared to missing an incremental forecast with an increase in ETR. Our study …

uncertainty, as reflected by greater timeliness with no loss in forecast accuracy. In contrast, analysts have greater difficulty … dealing with heightened market uncertainty, as both timeliness and forecast accuracy decline …

that their forecast revisions have significant predictive power and value …

This paper examines the impact of earnings announcements and earnings forecast revisions on stock returns across …-looking earnings announcement information and forward-looking earnings forecast information on the price of equity shares. We analyze … availability and actual or perceived reliability affect this relationship. We find that forward-looking analyst forecast …

(July 2007 to March 2009) resulting in larger forecast errors. Of our risk indicators only credit risk (5-year CDS spreads … accurate forecasts. Leverage is negatively linked to forecast error as is market volatility which has a differential impact on …

expected change in earnings, our study investigates how firms manage their earnings forecast strategy once they have decided to … to adopt a multiple earnings forecast (a portfolio) approach in the statutory sanctions period, particularly for the …

This paper examines the extent to which financial signaling affects the analysts' and managers' forecast releases. The … findings give evidence of heterogeneity of analysts' forecast errors between firms with strong financial indicators (high … group). The paper further indicates that managers' forecast releases also depend on the type of the firm and that managers …