Using an international sample of 16 countries, this paper examines if analyst-and country-
specific characteristics explain the variation in target price (TP) accuracy. We find that …

We investigate whether the choice of valuation model affects the forecast accuracy of the
target prices that investment analysts issue in their equity research reports, controlling for …

Analyst forecast information is available to the public in less developed countries at a little
cost. The role of analysts in forecasting stock returns cannot be over-emphasized. Yet, little …

This paper examines the impact of teamwork on sell-side analysts' performance. Using a
hand-collected sample of over 50,000 analyst research reports, we find that analyst teams …

From 1994 to 1998, Bradshaw (2004) finds that analysts' stock recommendations relate
negatively to residual income valuation estimates (scaled by current price) but positively to …

The purpose of this paper is to empirically test the claim made by Stern Stewart & Company
that economic value added is a better metric that traditional earning based measures in …

This study examines whether European investment analysts prefer cash flow based
valuation models over accrual based models, how accurate valuation models are and …

This study analyzes the accuracy of forecasted target prices within analysts' reports. We
compute a measure for target price forecast accuracy that evaluates the ability of analysts to …

Purpose Surprisingly little is known of the various methods of security analysis used by
financial analysts with industry-specific knowledge. Financial analysts' industry knowledge is …

Sell-side analysts, on balance, have incentives to emphasize good company news and
downplay the bad, resulting in inefficient forecasts. We conjecture that this behavior …