... models to examine analyst forecast behavior. The authors also test the robustness of the results under different model specifications, tone word lists and alternative tone measure calculations. Findings Consistent with the notion that analysts respond to the information demand from investors...

...Omar Esqueda; Thanh Ngo; Daphne Wang Purpose This paper examines the effect of managerial insider trading on analyst forecast accuracy, dispersion and bias. Specifically, the authors test whether insider-trading information is positively associated with the precision of earnings forecasts...