Language barriers, corporate site visit, and analyst forecast accuracy

Tam, Lewis; Tian, Shaohua

doi:10.1016/j.qref.2023.07.010

The Quarterly Review of Economics and Finance

2023

DOI: 10.1016/j.qref.2023.07.010

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Language barriers, corporate site visit, and analyst forecast accuracy

Lewis Tam¹,

Shaohua Tian²

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2024

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Cited by 7 publications

References 91 publications

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ESG Rating Disagreement and the Quality of Analysts' Forecasts: Information or Noise

Li,

Chen

2024

Int. J Fin Econ

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The rise of ESG investment has stimulated the development of ESG ratings, while there is substantial ESG rating disagreement among different rating agencies, which creates a major obstacle to sustainable investment. This study empirically examines the impact of ESG rating disagreement on the quality of analysts' forecasts based on the data of Chinese listed companies from 2015 to 2021. It is found that the ESG rating disagreement significantly improves the quality of analysts' forecasts. Mechanism analysis demonstrates that ESG rating disagreement can enhance the quality of analysts' forecasts by increasing analysts' attention. Heterogeneity analysis reveals that the observed effect is more pronounced in companies with low information quality and those with star analysts. These findings not only objectively assess the impact of ESG rating disagreement, but also emphasise the crucial role of analysts in improving the capital market information environment.

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ESG Rating Disagreement and the Quality of Analysts' Forecasts: Information or Noise

Li,

Chen

2024

Int. J Fin Econ

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How informative is question-and-answer similarity to financial analysts? Evidence from Chinese earnings communication conferences

Liu,

Chi,

Wang

2024

Economic Modelling

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Forecasting disorientation in the tax avoidance map: Tax haven subsidiaries and analyst forecasts

Jin,

Pan,

Huang

2024

International Review of Financial Analysis

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Language barriers, corporate site visit, and analyst forecast accuracy

Cited by 7 publications

References 91 publications

ESG Rating Disagreement and the Quality of Analysts' Forecasts: Information or Noise

ESG Rating Disagreement and the Quality of Analysts' Forecasts: Information or Noise

How informative is question-and-answer similarity to financial analysts? Evidence from Chinese earnings communication conferences

Forecasting disorientation in the tax avoidance map: Tax haven subsidiaries and analyst forecasts

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