discovery literature – that captures how quickly the daily consensus analyst earnings forecast approaches the actual earnings as …

We create an alternative, simpler definition of analyst forecast timeliness leaders based on their response after the … prior definitions of timeliness. Furthermore, prior forecast accuracy is positively associated to the forecast …

years using analyst forecast measures found in the literature. First, we show that forecast dispersion is reduced around … earnings announcements and this reduction has increased over time. Next, we use a forecast measure of informedness from Barron …. Finally, we use Barron et al.’s forecast measure of consensus to show that the ability of earnings announcements to make …

financial year-ends. A change in a median consensus forecast should be followed directly by a commensurate change in share price …

unusually optimistic earnings forecast at the end of the year that increases the likelihood of an earnings miss. We first … difficult-to-beat forecast as a final earnings forecast prior to the earnings announcement that exceeds even the most optimistic … forecast issued by any other analyst covering the stock. We find that 11% of all firm-year observations are subject to at least …

that the average forecast error has decreased over time reflecting the maturing of the Chinese securities firms. Affiliated … than un-affiliated firms which is contrary to findings from other countries. Also, forecast errors produced by local … to forecast earnings. Finally financial markets react stronger to stock recommendations by star analysts …