Following the leader: ☆: a study of individual analysts’ earnings forecasts

By Ricky Cooper, Theodore E. Day, Craig M. Lewis. 2001

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Financial Analyst Characteristics and Herding Behavior in Forecasting (2005, background): “These procedures yield a sample of 57,596 analyst–firm–year observations.7 6 Prior to the early 1990s, forecast dates recorded by I/B/E/S sometimes differed from the actual forecast date by a few days (Cooper et al. (2001), Clement and Tse (2003)).”
The Financial Analyst Forecasting Literature: A Taxonomy with Suggestions for Further Research (2008, background): “Cooper, Day, and Lewis (2001) Archival, I/B/E/S, 1993-1995.”
Do sell-side analysts exhibit differential target price forecasting ability? (2012, neutral): “For example, Loh and Mian (2006) find the average factor-adjusted return of recommendations by analysts in the highest earnings-forecast accuracy quintile is 1.48 % per month higher than by analysts in the lowest earnings-forecast accuracy quintile.”
Analysts' Weighting of Private and Public Information (2006, neutral): “This is because more trading volume is generated by a given amount of news in his forecasts (Cooper, Day, and Lewis (2001)).”
Customer Satisfaction, Analyst Stock Recommendations, and Firm Value (2010, neutral): “Cooper, Day, and Lewis 2001 !”
Analyst Responsiveness and the Post-Earnings-Announcement Drift (2008, positive): “14 directly on commission revenues, analyst compensation is based, in part, on the trading volume generated by their research (Cooper et al., 2001). Cooper et al. (2001) find that analysts with”