We use a simultaneous equations model to study forecast accuracy, analyst following, and
trading volume. Forecast accuracy and analyst following are determined simultaneously …

This paper examines whether institutional investors create or reduce incentives for corporate
managers to reduce investment in research and development (R&D) to meet short-term …

This study examines how firms' asymmetric cost behavior influences analysts' earnings
forecasts, primarily the accuracy of analysts' consensus earnings forecasts. Results indicate …

We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations
and estimate the implied cost of capital (ICC) for a large sample of firms over 1968–2008 …

This paper presents a model that relates properties of the analysts' information environment
to the properties of their forecasts. First, we express forecast dispersion and error in the …

We investigate if sell-side security analysts generate more accurate quarterly earnings
forecasts and more profitable stock recommendations as their experience following a …

This paper develops a taxonomy of research examining the role of financial analysts in
capital markets. The paper builds on the perspectives provided by Schipper [Schipper …

Applying a Burgstahler and Dichev (1997)/Degeorge et al.(1999) type methodology to
quarterly data for the 1985–2002 time period, we show that, since the mid‐1990s, but not …

We investigate the association between corporate international diversification and the
accuracy and bias of consensus analysts' earnings forecasts. We find that greater corporate …

The evidence supports the emphasis that recent policy statements have put on increasing
the number of independent directors on corporate boards. This study offers insights to policy …