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Analysts, macroeconomic news, and the benefit of active in-house economists
Hugon, Artur; Kumar, Alok; Lin, An-Ping - In: The accounting review : a publication of the American … 91 (2016) 2, pp. 513-534
Persistent link: https://www.econbiz.de/10011458958
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Returns to Informational Advantages : The Case of Analysts' Forecast Revisions
Abdel-Khalik, A. Rashad - 2014
This paper evaluates whether the primary and secondary dissemination of earnings forecast revisions by security …) of trading strategies based on the nonpublic knowledge of forecast revisions. For a sample of 288 weekly earnings … forecast revisions, the results were consistent with the hypothesis that early knowledge of forecast revisions could be used to …
Persistent link: https://www.econbiz.de/10013053009
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Irrationality or efficiency of macroeconomic survey forecasts? : implications from the anchoring bias test
Hess, Dieter; Orbe, Sebastian - 2011
We analyze the quality of macroeconomic survey forecasts. Recent findings indicate that they are anchoring biased. This irrationality would challenge the results of a wide range of empirical studies, e.g., in asset pricing, volatility clustering or market liquidity, which rely on survey data to...
Persistent link: https://www.econbiz.de/10009270413
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Irrationality or Efficiency of Macroeconomic Survey Forecasts? Implications from the Anchoring Bias Test
Hess, Dieter - 2012
Recent findings indicate that macroeconomic survey forecasts are anchoring biased and therefore are inefficient. However, despite highly significant test coefficients a bias adjustment does not improve forecasts' quality. We find that the cognitive bias is a statistical artifact and that the...
Persistent link: https://www.econbiz.de/10013115740
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Irrationality or Efficiency of Macroeconomic Survey Forecasts? Implications from the Anchoring Bias Test
Hess, Dieter - 2012
Recent findings indicate that macroeconomic survey forecasts are anchoring biased and therefore are inefficient. However, despite highly significant test coefficients a bias adjustment does not improve forecasts' quality. We find that the cognitive bias is a statistical artifact because the...
Persistent link: https://www.econbiz.de/10013100577
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Can Investors Profit from Information Diveristy? The Wisdom of Crowds in Security Analyst Recommendations
Mostipan, Ilona - 2018
consensus estimate takes a simple average of individual forecasts, implicitly treating each forecast as a common signal plus …
Persistent link: https://www.econbiz.de/10012931956
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The value of crowdsourced earnings forecasts
Jame, Russell; Johnston, Rick; Markov, Stanimir; Wolfe, … - In: Journal of accounting research 54 (2016) 4, pp. 1077-1110
Persistent link: https://www.econbiz.de/10011557673
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An analysis of persistence in analyst's relative forecast accuracy
Simon, Andreas - In: Applied financial economics 24 (2014) 1/3, pp. 107-120
Persistent link: https://www.econbiz.de/10010391465
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Analyst forecasts during the COVID-19 pandemic : evidence from REITs
Anglin, Paul M.; Cui, Jianxin; Gao, Yanmin; Zhang, Li - In: Journal of risk and financial management : JRFM 14 (2021) 10, pp. 1-23
better understand how financial analysts forecast earnings. We focus on forecasts for Real Estate Investment Trusts (REITs … regression analysis finds that the severity of the pandemic increases analysts' forecast error and dispersion. Government … forecast error rises by more, for REITs, when focusing on Hospitality and Industrial properties, and dispersion rises by more …
Persistent link: https://www.econbiz.de/10012628786
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Media sentiment divergence and analyst earnings forecasts
Kyung, Hangsoo; Tsang, Albert - In: Asia-Pacific journal of accounting & economics : … 31 (2024) 1, pp. 25-49
Persistent link: https://www.econbiz.de/10014489079