forecast errors and accruals, which we label “managers' accrual-related forecast bias.” We build on extensive research which … bias in their forecasts. We also find a substantial decline in managers' accrual-related forecast bias following the … importantly, we find that the effect of forecasting difficulty on managers' accrual-related forecast bias occurs only in the pre …

We examine whether attribution bias that leads managers who have experienced short-term forecasting success to become … overconfident in their ability to forecast future earnings. Importantly, this form of overconfidence is endogenous and dynamic. We … also examine the effect of this cognitive bias on the managerial credibility. Consistent with the existence of dynamic …

commonly viewed as industry specialists, we fail to find evidence that analysts have an information advantage over managers at … the industry level. The two have comparable abilities to forecast earnings for firms with revenues or earnings that are …

We find that the salience distortions of past fundamental information significantly predict future analyst forecast … forecast errors are more pronounced in firms with opaque earnings. Moreover, the dispersion of analyst forecasts is …

forecasts is found to be correlated with indicators of bias in a manner consistent with investors discounting optimistic …

future. In addition, we draw on some contemporary measures of forecast quality (prediction-realization diagram, test of …

This paper provides evidence of confirmation bias by sell-side analysts in their earnings forecasts. We show that … analysts tend to put higher weight on public information when the current forecast consensus is more consistent with their … earlier, or facing less dispersion in peer forecasts, tend to be more subject to confirmation bias, consistent with some of …

with the magnitude of the bias in analysts' earnings forecasts. We posit that there is higher demand for non …

We investigate the association between corporate international diversification and the accuracy and bias of consensus …

, revealed that managers' earnings or sales forecasts on average show a bias towards overoptimism. However, in the present study … the average firm is found to be very well able to correctly forecast its own future key figures. I suggest that public …