Consensus analysts' earnings forecasts and security returns

1996 ◽  
Vol 13 (2) ◽  
pp. 101-110 ◽  
Author(s):  
Michael Aitken ◽  
Alex Frino ◽  
Roland Winn
Keyword(s):  
Earnings Forecasts ◽  
Security Returns ◽  
Consensus Analysts

Revisions of Earnings Forecasts and Security Returns: Evidence from Three Countries

2001 ◽  
Author(s):  
John Capstaff ◽  
Krishna N. Paudyal ◽  
William Rees
Keyword(s):  
Earnings Forecasts ◽  
Security Returns

International Diversification and Analysts' Forecast Accuracy and Bias

2002 ◽  
Vol 77 (2) ◽  
pp. 415-433 ◽  
Author(s):  
Augustine Duru ◽  
David M. Reeb
Keyword(s):  
Forecast Accuracy ◽  
Earnings Forecasts ◽  
International Diversification ◽  
Corporate International Diversification ◽  
Consensus Analysts

We investigate the association between corporate international diversification and the accuracy and bias of consensus analysts' earnings forecasts. We find that greater corporate international diversification is associated with less accurate and more optimistic forecasts. Our results suggest that international diversification reflects unique dimensions of forecasting difficulty that are not captured in previously identified determinants. This evidence suggests that as firms become more geographically diversified, forecasting their earnings becomes more complex.

scholarly journals The Impact Of Options Listing Upon The Optimistic Bias In Analysts Quarterly Earnings Forecasts

2011 ◽  
Vol 11 (4) ◽  
pp. 73
Author(s):  
David L. Senteney ◽  
Andrew G. Snyir
Keyword(s):  
Earnings Forecasts ◽  
Optimistic Bias ◽  
Quarterly Earnings ◽  
The Impact ◽  
Insight Into ◽  
Consensus Analysts

We provide evidence that firms options listing increases the divergence of analysts opinions and, at the same time, leads to a reduction in the systematic optimistic bias in an important element of the market expectation of earnings, analysts consensus earnings forecasts. Our contribution is added insight into how the increased divergence of analysts opinions following options listing drives a reduction of systematic optimistic bias in consensus analysts forecasts.

Inefficiency in Analysts' Earnings Forecasts: Systematic Misreaction or Systematic Optimism?

CFA Digest ◽  
2000 ◽  
Vol 30 (2) ◽  
pp. 24-25
Author(s):  
Brian A. Maris
Keyword(s):  
Earnings Forecasts

Security Returns and Tax Aversion Bias: Behavioral Responses to Tax Labels

CFA Digest ◽  
2014 ◽  
Vol 44 (8) ◽  
Author(s):  
Peter Eickelberg
Keyword(s):  
Behavioral Responses ◽  
Security Returns

Patterns in Analysts’ Long-Term Earnings Forecasts

CFA Digest ◽  
2008 ◽  
Vol 38 (2) ◽  
pp. 55-56
Author(s):  
Daniel J. Larocco
Keyword(s):  
Earnings Forecasts

Confirming Management Earnings Forecasts, Earnings Uncertainty, and Stock Returns

CFA Digest ◽  
2004 ◽  
Vol 34 (1) ◽  
pp. 56-57
Author(s):  
Daniel B. Cashion
Keyword(s):  
Stock Returns ◽  
Earnings Forecasts ◽  
Management Earnings Forecasts ◽  
Earnings Uncertainty
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