New Evidence on Serial Correlation in Analyst Forecast Errors
AbstractSecurities analysts react optimistically to new information, underreacting to bad news and overreacting to good news. This evidence suggests that securities analysts might produce optimistic earnings forecasts in response to their economic incentives.
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Bibliographic InfoArticle provided by Financial Management Association in its journal Financial Management.
Volume (Year): 28 (1999)
Issue (Month): 4 (Winter)
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- April Knill & Kristina Minnick & Ali Nejadmalayeri, 2012. "Experience, information asymmetry, and rational forecast bias," Review of Quantitative Finance and Accounting, Springer, vol. 39(2), pages 241-272, August.
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