The Effect of Dispersion on the Informativeness of Consensus Analyst Target Prices

The authors thank Alina Lerman, Bob Resutek, and Jake Thomas as well as workshop participants at the Brigham Young University Accounting Research Symposium, the Chinese University of Hong Kong (Shenzhen), Columbia University, the Dartmouth Accounting Research Conference, and Frankfurt School of Finance and Management for helpful comments. The authors also thank Jinjie Lin for excellent research assistance.