This is the first large study to examine the relation between analysts' stock recommendations, earnings forecasts, and future excess stock returns in an international context. We first document that some of the peculiar findings established in the U.S. extend to other countries where individual...

We examine whether differences between IFRS and U.S. GAAP affect forecast accuracy and other measures of analysts' performance and if analysts with superior forecasting ability are less affected by these differences. Our unique sample consists of resided U.S. analysts who followed cross-listed...