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Analysts' forecasts: Why are they biased?
Author(s) -
Becchetti Leonardo,
Hasan Iftekhar,
Santoro Marika,
Anandarajan Asokan
Publication year - 2007
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.20294
Subject(s) - stock (firearms) , financial economics , economics , stock market , consensus forecast , econometrics , business , accounting , geography , context (archaeology) , archaeology
The stock market is driven by analysts' forecasts. Investors rely on them. But research has shown that analysts' forecasts are biased. What causes this? And what kinds of stocks are most affected? © 2007 Wiley Periodicals, Inc.