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

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 …

, and financial analyst forecast optimistic bias. We find that firms that adopt clawback provisions are followed by more … provisions and similar non-adopters. In particular, we examine financial analyst following, financial analyst forecast accuracy … financial analysts. We also find that financial analysts provide more accurate forecasts, and with less optimistic bias …

is mainly strategic or whether it also contains an element of cognitive bias. Despite the fact that forecast errors lack … stock returns, our new tests based on selection bias (SB1 and SB2), in conjunction with an analysis of abnormal trading … volume, confirm the presence of both cognitive bias and strategic behaviour in analyst forecasts. This shows that, although …

of forecast bias and (ii) investors' limited capability to adjust to this bias. We assume that the presence of a bias is … skills, all the more so the larger the uncertainty about the forecast bias … present a model in which forecast accuracy and timing are affected by information uncertainty stemming from (i) the presence …

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

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i … forecast revision consistency to convey information about bias in their earnings forecast revisions ….e., the extent to which analyst reports with earnings forecast revisions include stock recommendation and target price …

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

earnings forecasters, we see that small adjustments to the model forecasts lead to more forecast accuracy. Based on past track …

less so. We confirm this prediction empirically for sell-side equity analysts' forecasts using a new measure of forecast …