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We test the implications of anchoring bias associated with forecast earnings per share (FEPS) for forecast errors … more positive forecast revisions, more negative forecast errors, and more negative earnings surprises after a stock split …
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paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the … increasing with time. Second, we find evidence that earnings expectations are not mainly based on analyst forecast in the first … (2010–2015) as analyst forecast better explain returns and exhibit greater relative information content. …
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empirical study has investigated the nexus between the analyst forecast dispersion (AFD) and excess returns surrounding stock …
Persistent link: https://www.econbiz.de/10011556115
The arrival of new information helps financial markets to value assets, but it may has the side-effect of increasing their volatilities. A better knowledge of the mechanism that links relevant news and stock prices would help both private and institutional agents to improve the calibration of...
Persistent link: https://www.econbiz.de/10013098006
We measure the information content of monthly analyst consensus forecasts for one-year-forward earnings per share (EPS) based on two well-established price discovery measures drawn from the area of market micro-structure research. Employing a 36-year sample of large US companies listed in the...
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