The purpose of this paper is to investigate the role of earnings forecast revisions by equity analysts in predicting Canadian stock returns. The sample covers 420 Canadian firms over the period 1998-2009. It analyses investors' reactions to 27,271 upward revisions and 32,005 downward revisions...

This paper analyzes the trading activity of Taiwanese open-end equity mutual fund herding behaviour over the period of 1996 to 2008. We employ the herding measure suggested by Wermers (1999) and find strong evidence of both directional and directionless herding activities, and also of positive...

This paper examines the accuracy of equity analysts who provide earnings forecasts for European companies. We find strong evidence of institutional bias in analysts’ forecasts, specifically, when analysts move between sell-side employers and independent employers, they issue more accurate...

Purpose The purpose of this paper is to investigate the role of earnings forecast revisions by equity analysts in predicting Canadian stock returns Design/methodology/approach The sample covers 420 Canadian firms over the period 1998-2009. It analyses investors’ reactions to 27,271 upward...

This paper investigates the impact on corporate performance of UK firms from adopting the Cadbury Committee's Code of Best Practice. The findings show improved corporate performance for companies adopting the code. Regarding the specific recommendations of the Code, splitting the positions of...

This article analyses the trading activity of Taiwanese open-end equity mutual fund herding behaviour over the period of 1996--2008. We found evidence of both directional and directionless herding. We also found that sell-side fund herding leads to price stabilization, whereas buy-side herding...