reinforcing and contradicting analyst forecast revisions issued during earnings announcements (days 0 and 1) on the market … response to unexpected earnings. We classify forecast revisions as reinforcing (contradicting) when the sign of analyst … forecast revisions agrees (disagrees) with the sign of unexpected earnings. We document larger (smaller) earnings response …

Our paper investigates whether analysts' experience mitigates their forecast over-optimism associated with high … discretionary accruals. Prior literature shows that analysts' forecast optimism is associated with high total accruals and working … by first showing that forecast over-optimism is associated with higher discretionary accruals. We then show that analysts …

controls for the forecast error throughout the quarter. Results show that during high macro uncertainty periods, the market …