We examine differences in quarterly earnings announcement returns as a function of meeting or missing each of three earnings thresholds – reporting a profit, reporting an increase in earnings, and meeting analysts' forecasts. In contrast to prior research, the research design identifies the...

We examine differences in quarterly earnings announcement returns as a function of meeting or missing each of three earnings thresholds – reporting a profit, reporting an increase in earnings, and meeting analysts' forecasts. In contrast to prior research, the research design identifies the...

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...

Berkman, Dimitrov, Jain, Koch, and Tice (2009) document a negative relation between differences of opinion and earnings announcement returns, and this relation is more pronounced when short sale constraints are likely to be high. These findings are interpreted as support for the theory in Miller...