This study examines whether the improvement in analyst forecast accuracy around mandatory IFRS adoption is associated with the improvement in the accuracy of financial statement-based forecasts. We find significant out-of-sample improvement in financial statement-based forecast accuracy around...

We find that individual analysts following the same firm and quarter forecast different underlying street performance metrics. Relative to analysts whose street forecast is based on generally accepted accounting principles (GAAP), analysts who forecast street earnings using a non-GAAP...

This study examines individual analyst forecast revisions of annual earnings to provide insight into “walkdown” behavior, in which analyst forecasts begin optimistic and walkdown over time to be pessimistic before the earnings announcement. We examine revisions of individual analyst...