Analysts' Forecasts and the Broker Relationship
研究分析师与所预测公司之间的密切工作关系是否影响预测准确性，发现这种关系不会提高准确性，反而导致乐观预测，并考察公司规模的作用。
Analysts' ability to forecast earnings per share has been the subject of considerable debate. A concern highlighted in previous research is the agency problem which may arise when analysts have a close working relationship with the firms for which they are providing forecasts. This paper provides evidence that this relationship does not improve the accuracy of the earnings forecasts, but stimulates optimistic forecasts. In addition, the paper examines whether firm size is a factor in forecast accuracy or bias.