ABSTRACT
This paper investigates the effect of the COVID-19 pandemic on analysts' forecast dispersion. We find that analysts' exposure to the COVID-19 lockdown reduces the dispersion of their forecasts. Along with the forecast dispersion, the number of earnings forecasts issued by treated analysts decreases, supporting the channel of attention distraction. Moreover, there is no significant difference between optimistic and pessimistic forecasts, against the explanation of risk attitude change. We find our conclusion is robust to a staggered DID model and numerous robustness tests. Our finding contributes to the dispute regarding the pandemic's effect on analyst forecast behavior.
ABSTRACT
This paper investigates the effect of the COVID-19 pandemic on analysts’ forecast dispersion. We find that analysts’ exposure to the COVID-19 lockdown reduces the dispersion of their forecasts. Along with the forecast dispersion, the number of earnings forecasts issued by treated analysts decreases, supporting the channel of attention distraction. Moreover, there is no significant difference between optimistic and pessimistic forecasts, against the explanation of risk attitude change. We find our conclusion is robust to a staggered DID model and numerous robustness tests. Our finding contributes to the dispute regarding the pandemic's effect on analyst forecast behavior.
ABSTRACT
The novel coronavirus SARS-CoV-2 (causing the disease COVID-19) has caused a highly transmissible and ongoing pandemic worldwide. Due to its rapid development, next-generation sequencing plays vital roles in many aspects. Here, we summarize the current knowledge on the origin and human transmission of SARS-CoV-2 based on NGS analysis. The ACE2 expression levels in various human tissues and relevant cells were compared to provide insights into the mechanism of SAS-CoV-2 infection. Gut microbiota dysbiosis observed by metagenome sequencing and the immunogenetics of COVID-19 patients according to single-cell sequencing analysis were also highlighted. Overall, the application of these sequencing techniques could be meaningful for finding novel intermediate SARS-CoV-2 hosts to block interspecies transmission. This information will further benefit SARS-CoV-2 diagnostic development and new therapeutic target discovery. The extensive application of NGS will provide powerful support for our fight against future public health emergencies.