Earnings Skewness and Analyst Forecast Bias

By Z. Gu, J. Wu. 2003

444 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/1fe08cc5e905c68527772ee538bf2687bc4a5e8b

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Citations in the corpus

Loss Function Assumptions in Rational Expectations Tests on Financial Analysts' Earnings Forecasts (2004, unknown): “ Gu and Wu (2003) argue that analysts minimize their absolute forecast errors, and report that analysts’ mean forecast bias is predictably related to the skewness of the underlying earnings distribution.”
Do Analysts Matter for Governance? Evidence from Natural Experiments (2015, background): “…of interest between analysts and sell-side or buy-side clients, which results in an optimistic bias in earnings forecasts (e.g. Das et al., 1998; Gu and Wu, 2003; O’Brien et al., 2005; Ke and Yu, 2006; Mola and Guidolin, 2009; Groysberg et al., 2011).3 There is a striking paucity of papers that…”
The Financial Analyst Forecasting Literature: A Taxonomy with Suggestions for Further Research (2008, background): “Gu and Wu (2003) Archival, I/B/E/S, 1983-1998.”
Analyst coverage, optimism, and stock price crash risk: Evidence from China (2013, methodology): “Following Gu and Wu (2003), we first calculate analyst forecasting bias as”
Determinants of Market Reactions to Restatement Announcements (2001, unknown): “We repeat the analysis with median analyst forecasts with similar results (see Gu and Wu, 2002).”
Properties of implied cost of capital using analysts’ forecasts (2011, unknown): “This work complements other recent papers, such as Hughes et al. (2009) that identify measurement errors and biases in implied cost of capital estimates.”
Biased Forecasts or Biased Earnings? The Role of Reported Earnings in Explaining Apparent Bias and Over/Underreaction in Analysts' Earnings Forecasts (2003, unknown): “realization of returns or earnings (e.g., Abarbanell, 1991; Easterwood and Nutt, 1999) commonly frame the question in terms of whether analysts over- or underreact to prior news.”
Econometrics of the Basu Asymmetric Timeliness Coefficient and Accounting Conservatism (2013, unknown): “The concept of asymmetric earnings timeliness also has been utilized to increase our understanding of phenomena such as the shape of the earnings distribution and the properties of analysts’ earnings forecast errors (Gu and Wu, 2003), the payoff function for analysts (Basu and Markov, 2004), and the”