differential 'profits management.' The paper discusses implications of the results for studies of analysts forecast bias, earnings …

measure which decomposes the total diversification into an unrelated and a related component. For the consensus forecast … analysis, we examine the effect of these variables both on forecast accuracy and inter-analyst earnings forecast disagreement …. For the individual analyst forecast analysis, we examine the effect of the number of business segments followed by an …

forecast properties. The evidence shows that analysts' earnings forecast accuracy is higher and the forecast dispersion is … higher forecast accuracy and less forecast dispersion in the non-Big Five auditor sample but not in the Big Five auditor …

analysts observe the actions of investors and other analysts in order to more accurately forecast earnings and have the …

We consider forecast guidance as a mechanism that managers use to avoid negative earnings surprises. Modeling forecast … forecast guidance to avoid negative earnings surprises than managers in weak-investor-protection countries. We also show that … US managers are more prone to use forecast guidance to avoid negative earnings surprises than managers in other countries …

optimism, when analysts' forecast dispersion is low. Analysts quickly react to management guidance and they are more likely to …

macroeconomic forecasts are optimistic than non-optimistic, and whether this difference in analyst forecast optimism is stronger …. We also find that the long-horizon earnings forecast dispersion is lower in periods when the long-horizon macroeconomic … is no recession and macroeconomic forecast is optimistic are likely to have opportunistically biased their long …