... regression equation) and the analyst’s ex post normalized accuracy. We use four measures of market efficiency for each stock and each quarter, given by controlled contrasts of halfhour-level absolute idiosyncratic returns to a potentially material event in relevant halfhours following...

...Shiqiang Chen; Mian Cheng; Yonggen Luo; Albert Tsang Purpose In this study, we examine the influence of a firm’s environmental, social, and governance (ESG) performance on analysts’ stock recommendations and earnings forecast accuracy in the Chinese context. Design/methodology/approach We take...

...Rajeev R. Bhattacharya; Mahendra R. Gupta Purpose The authors provide a general framework of behavior under asymmetric information and develop indices of diligence, objectivity and quality by an analyst and analyst firm about a studied firm, and relate them to the accuracy of its forecasts...