Prior archival studies of analysts’ forecasts have found evidence for systematic underreaction, systematic overreaction, and systematic optimism bias. Easterwood and Nutt (1999) attempt to reconcile the conflicting evidence by testing the robustness of Abarbanell and Bernard’s (1992) underreaction results to the nature of the information. Consistent with systematic optimism, forecasts are found...

We examine how the properties of equity analysts’ bank loan loss provision forecasts differ with provision timeliness. We find that the accuracy of analyst provision forecasts relative to time-series provision forecasts is more pronounced for banks with more timely loan loss provisions. Consistent with the greater accuracy of analysts’ provision forecast for timely banks, we find that, controll...

We conduct a laboratory experiment to study how advice affects the gender gap in the entry into a real-effort tournament. Our experiment is motivated by the concerns raised by approaching the gender gap through affirmative action. Advice is given by subjects who have already had some experience with the participation decision. We show that advice improves the entry decision of subjects, in that...

In the present age of globalization, technology-revolution and sustainable development, the presence of seasonality in tourist arrivals is considered as a key policy issue that affects the global tourism industry by creating instability in the demand and revenues. The seasonal component in a time-series distorts the prediction attempts for policy-making. In this context, it is quintessential to...

Abstract The aim of this article was to analyze the relationship between informational content key audit matters (KAMs) reported in Independent Audit Report (IAR) and financial analysts’ forecasts for companies listed on B3 S.A. - Brasil, Bolsa, Balcão (B3). research that has investigated relevance KAMs not analyzed incremental information about audited firm, from independent auditor’s viewpoin...

Four dimensional variational (4D-Var) Data Assimilation (DA) method is used to find the optimal initial conditions by minimizing cost function in which background information and observations are provided as the input of the cost function. The corrected initial condition based on background error covariance matrix and observations improve the forecast. The targeted observations determined by us...

Despite numerous empirical studies, there is surprisingly little agreement about whether the Social Security earnings test affects male labor supply. In this paper, we provide a comprehensive analysis of the labor supply effects of the earnings test using longitudinal administrative earnings data and more commonly used survey data. We find that the response to the earnings test in survey data i...