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Establishment-level life cycles and analysts' forecasts

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  • Sudipta Basu
  • Xin Dai
  • Caroline Lee

Abstract

This paper examines how multi-unit firms’ life-cycle stages affect analyst forecast accuracy. While prior studies focus on the firm-level life cycle, we utilize the Census data and focus on the establishment level. As a comparison, we estimate the life-cycle stages using firms’ segment classifications in their 10-K filings. To our best knowledge, this is the first study that focuses on the establishment-level life cycle. To provide better forecasts to investors, analysts should have a deeper understanding of firms’ subunits, especially when the establishments are in different life-cycle stages.

Suggested Citation

  • Sudipta Basu & Xin Dai & Caroline Lee, 2026. "Establishment-level life cycles and analysts' forecasts," CES Technical Notes Series 26-10, Center for Economic Studies, U.S. Census Bureau.
    • Handle: RePEc:cen:tnotes:26-10
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