Analysts' Conflict of Interest and Biases in Earnings Forecasts

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Estimating Static Models of Strategic Interactions (2010, background): “…focus in this paper is on the recommendations generated for firms in the high-tech sector during the run-up and subsequent collapse of the NASDAQ in 2000; see also Barber et al. (2003), Chan, Karceski, and Lakonishok (2007), Womack (1996), Lin and McNichols (1998), and Michaely and Womack (1999).”
The Effectiveness of Reputation as a Disciplinary Mechanism in Sell-Side Research (2009, background): “For related literature on career concerns and analyst herding, see, for example, Scharfstein and Stein (1990); Zwiebel (1995); Hong, Kubik and Solomon (2000); Welch (2000); Bernhardt, Campello and Kutsoati (2006); Ottaviani and Sorensen (2006); Clark and Subramanian (2005); and Dasgupta and Prat (20”
Are Small Investors Naive About Incentives (2007, unknown): “Directly or indirectly, analyst compensation depends on the “support” in generating corporate finance profits (Hong and Kubik, 2003; Chan et al., 2003).”