In this paper we examine the effect of financial analysts on the quality of corporate investment decisions. We show that greater analyst coverage leads to higher total factor productivity within firms, a finding that is robust after using both an instrumental variable approach and an...

We investigate the extent to which international and domestic economic policy uncertainty (EPU) impacts analysts’ earnings forecasts for Australian Securities Exchange (ASX) listed firms. Over a twenty-year period, we demonstrate that EPU is positively associated with analyst coverage, the...

This study proposes and validates “other information” in analysts' forecasts as a legitimate proxy for future cash flows, and examines its incremental role in explaining stock return volatility. We suggest that “other information” contains information about fundamentals beyond that...