forecast bias involves various forces including a country's institutional infrastructure, and firm and analyst characteristics … we expect to be associated with the prevalence of the analyst walk-down forecast pattern. Based on a large sample of 50 …

, higher forecast accuracy, and lower forecast dispersion. Moreover, the effect of product market power on analyst following … and forecast properties is more pronounced in countries with less effective competition laws and higher entry costs. These …

from around the world. By examining cash flow and discount rate news comovements, we find that financial and economic …

We investigate the association between corporate international diversification and the accuracy and bias of consensus …

In this paper, we examine whether sell-side financial analysts show a bias when translating their soft information into … that our observed conservative bias increases when the underlying information signals are of poorer quality, which we … measure by the forecast horizon, linguistic cues in the report, and characteristics of the firms' information environments …