I examine whether and why the completion of an acquisition affects the bias in managers' earnings forecasts, and three … acquisition characteristics that enhance managers' perceived commitment and control to an acquisition, and whether the bias is … departure. Together, these tests support the argument that managers' optimistic bias is related to unintentional, rather than …

Using a value-weighted rather than an equally weighted regression, Easton and Sommers (2007) show that the upward bias … that the impact of any bias attributable to analysts' forecasts can be reduced to a statistically insignificant 0 ….4%. Second, we show that our estimates of the implied equity risk premium after removing the effect of this bias are between 3 …

. Furthermore, a model that combines a naïve benchmark (last year's earnings) with the analyst long-term earnings growth forecast …

We test the implications of anchoring bias associated with forecast earnings per share (FEPS) for forecast errors … more positive forecast revisions, more negative forecast errors, and more negative earnings surprises after a stock split …