(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 …

to forecast future earnings accurately. This suggests that additional information is released during conference calls …. The reduction in forecast error is economically significant and larger in magnitude when compared to results for the US …

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 …

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 …

We create an alternative, simpler definition of analyst forecast timeliness leaders based on their response after the … prior definitions of timeliness. Furthermore, prior forecast accuracy is positively associated to the forecast …

financial year-ends. A change in a median consensus forecast should be followed directly by a commensurate change in share price …

that their forecast revisions have significant predictive power and value …

' forecast bias. Based on the theoretical literature on sell-side analysts, I argue that forecast bias is correlated to investors …

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 …