Breaking the Language Barriers? Machine Translation Technology and Analysts’ Forecasts for Firms with Foreign Operations

Breaking the Language Barriers? Machine Translation Technology and Analysts’ Forecasts for Firms with Foreign Operations

Breaking the Language Barriers? Machine Translation Technology and Analysts’ Forecasts for Firms with Foreign Operations

We study the impact of machine translation technology on analysts’ forecasts for firms with foreign operations. Exploiting the staggered rollout of Google Translate’s support for translating foreign languages into English, we find that U.S. analysts improve their forecast accuracy for firms with substantial business exposure to the corresponding foreign countries.

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