Franck, Alexander; Kerl, Alexander - In: Journal of Banking & Finance 37 (2013) 8, pp. 2677-2692
holdings in stocks when any of the consensus forecast measures increases (decreases) within the quarter prior to the … observation period. Furthermore, mutual fund managers primarily attribute high information value to consensus forecast revisions … show that stock trades that are in line with analyst forecast revisions significantly outperform trades that are contrary …