This paper presents results from a study comparing human performance on the text of natural language information extraction with that of machine extraction systems that were developed as part of the ARPA Tipster program. Information extraction is shown to be a difficult task for both humans and machines. Evidence for one set of text material, English Microelectronics, indicated that a human ana...

This survey reviews the literature on sell-side analysts’ forecasts and its implications for asset pricing. We review the literature on the supply and demand forces shaping analysts’ forecasting decisions as well as the implications of the information they produce for both the cash flow and the discount rate components of security returns. Analysts’ forecasts bring prices in line with the expec...

Bayesian model averaging enables one to combine the disparate predictions of a number of models in a coherent fashion, leading to superior predictive performance. The improvement in performance arises from averaging models that make different predictions. In this work, we tap into perhaps the biggest driver of different predictions—different analysts—in order to gain the full benefits of model ...

Abstract We study the mispricing information present in target prices of US and international analysts. hypothesize that asymmetry value-relevance managers supply to analysts, combined with incentives facing analysts curry favor managers, leads analyst-claimed undervaluation being more predictive future stock returns than overvaluation. Our empirical tests isolate by first removing analysts’ es...

Small Island Developing states (SIDs) present challenges for analysts and policy-makers attempting to strengthen island-nation infrastructure. This study applies lessons to one SID to illustrate how benchmarking can improve the performance of water utilities. The archipelagonation of Cape Verde is characterized by severe water scarcity and relatively low per capita income (the GDP is the 93 th ...

Purpose When improving business processes, process analysts can use data-driven methods, such as mining, to identify improvement opportunities. However, despite being supported by data, decide which changes implement. Analysts often visualisations assess and determine pursue. This paper helps explore how mining aid in their work identify, prioritise communicate Design/methodology/approach The s...

Emphasis on sustainable development and the need to protect the environment as well as the adverse effects of environmental pollution on the quality of life have made environmental protection one of the main concerns of economic policymakers. For this purpose, approaches to improve the quality of the environment and the factors affecting it have triggered extensive theoretical and empirical stu...

Emphasis on sustainable development and the need to protect the environment as well as the adverse effects of environmental pollution on the quality of life have made environmental protection one of the main concerns of economic policymakers. For this purpose, approaches to improve the quality of the environment and the factors affecting it have triggered extensive theoretical and empirical stu...

Previous research finds some evidence that analysts affiliated with equity underwriters issue more optimistic earnings growth forecasts and optimistic recommendations of client stock than unaffiliated analysts. Unfortunately, these studies are unable to discriminate between three competing hypotheses for the apparent optimism. Under the bribery hypothesis, underwriting clients, with the promise...

We report complex phenomena arising among financial analysts, who gather information and generate investment advice, and elucidate them with the help of a theoretical model. Understanding how analysts form their forecasts is important in better understanding the financial market. Carrying out big-data analysis of the analyst forecast data from I/B/E/S for nearly thirty years, we find skew distr...