2023
DOI: 10.1111/abac.12291
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Analyst Research Activity During the COVID‐19 Pandemic

Abstract: This paper documents that, in response to the COVID‐19 pandemic, analysts increase their research activity and significantly revise their forecasts when compared to the pre‐pandemic period. Uncertainty‐adjusted forecast errors are either comparable or smaller during the pandemic compared to the pre‐pandemic period. Investor attention and price reactions to analyst forecast revisions are higher during the pandemic and the effect is stronger in periods where investors actively search for information about firms.… Show more

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Cited by 2 publications
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“…Along with the forecast dispersion, the number of earnings forecasts issued by treated analysts decreases, supporting the attention distraction channel. Bilinski (2023) documents that, in response to the C19 pandemic, analysts increase their research activity and significantly revise their forecasts when compared to the pre-C19 period. Uncertaintyadjusted forecast errors are either comparable or smaller during the pandemic compared to the pre-C19 period.…”
Section: Corporate Disclosure During Times Of Heightened Uncertaintymentioning
confidence: 99%
“…Along with the forecast dispersion, the number of earnings forecasts issued by treated analysts decreases, supporting the attention distraction channel. Bilinski (2023) documents that, in response to the C19 pandemic, analysts increase their research activity and significantly revise their forecasts when compared to the pre-C19 period. Uncertaintyadjusted forecast errors are either comparable or smaller during the pandemic compared to the pre-C19 period.…”
Section: Corporate Disclosure During Times Of Heightened Uncertaintymentioning
confidence: 99%