behavioral bias. In the second stage analysts can adjust their earnings forecast in line with their strategic incentives. The … inflating their forecast. In their last revision, they become pessimistic and strategically deflate their earnings forecast …

that the average forecast error has decreased over time reflecting the maturing of the Chinese securities firms. Affiliated … than un-affiliated firms which is contrary to findings from other countries. Also, forecast errors produced by local … to forecast earnings. Finally financial markets react stronger to stock recommendations by star analysts …

mechanism explains approximately 60% of the autocorrelation in analysts' forecast errors. The remainder stems from the cross …-sectional variation in mean forecast errors and in analysts' estimation errors of the persistence of earnings growth shocks. Consistent … reduces, but does not eliminate, the auto- correlation of forecast errors as firms age. Other potential explanations for the …

behavioral bias. In the second stage analysts can adjust their earnings forecast in line with their strategic incentives. The … inflating their forecast. In their last revision, they become pessimistic and strategically deflate their earnings forecast …

is a cost-saving measure, a natural byproduct of analysts focusing on thematic research, and a reflection of forecast … forecast bundling has important implications for the properties of analysts' forecasts …

We find that forecast revisions by analysts with more favorable surnames elicit stronger market reactions. The effect … forecast quality, but it has complementary effects with forecast performance on analysts' career outcomes. Surname favorability … mitigates under-reaction to forecast revisions. These findings are distinct from the effects of ethnic, cultural proximity, or …

behave in such rational fashions. For example, salient information is overweighed in the expectation. This bias could be … investor's behavioral bias …

earnings forecasts. We find no evidence that product and business expansion disclosures increase analyst forecast errors …. Overall, our study contributes to understanding the role of product and business expansion disclosures in analyst forecast …