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Abstract
ABSTRACT This paper examines the impact of directors’ and officers’ insurance (D&O insurance) on analysts’ earnings forecast accuracy using data from China’ s A-share listed companies between 2013 and 2022. We find that D&O insurance improves forecast accuracy by enhancing corporate disclosure and governance. Further analysis reveals that this effect is more substantial in firms with higher average age, higher average education, lower audit quality, and a weaker regulatory environment.
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