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Textual Sentiment in Finance : A Survey of Methods and Models
Kearney, Colm - 2016
We survey the textual sentiment literature, comparing and contrasting the various information sources, content analysis methods, and empirical models that have been used to date. We summarize the important and influential findings about how textual sentiment impacts on individual, firm-level and...
Persistent link: https://www.econbiz.de/10013007694
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Target price forecasts : The roles of the 52-week high price and recent investor sentiment
Clarkson, Peter M.; Nekrasov, Alexander; Simon, Andreas; … - 2020
This paper reveals that in addition to fundamental factors, the 52-week high price and recent investor sentiment play an important role in analysts' target price formation. Analysts' forecasts of short-term earnings and long-term earnings growth are shown to be important explanatory variables...
Persistent link: https://www.econbiz.de/10012857242
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Long-Term Information in the Decision to Provide a Short-Term Forecast
Heinle, Mirko Stanislav; Kim, Chongho; Taylor, Daniel J.; … - 2021
Several recent empirical papers assert that the decision to disclose an earnings forecast shortly before the actual earnings announcement reveals only short-term information and is therefore unlikely to entail proprietary costs. Using a simple dynamic model of voluntary disclosure, we show that...
Persistent link: https://www.econbiz.de/10013245221
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Ability of Accounting and Audit Quality Variables to Predict Bank Failure During the Financial Crisis
Jin, Justin Yiqiang - 2020
We examine the ability of selected accounting and audit quality variables measured in a period prior to the financial crisis (i.e., the four quarters of 2006), to predict banks that subsequently failed during the financial crisis. These predictor variables include balance sheet strength, loan...
Persistent link: https://www.econbiz.de/10012857466
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Do Auditors Accurately Predict Litigation and Reputation Consequences of Inaccurate Accounting Estimates?
Gimbar, Christine - 2018
To effectively manage audit risk, auditors must anticipate potential litigation and reputation consequences associated … the effect that news articles about the litigation would have on their reputation with the general public. Similar to our … litigation results, auditors overestimated the negative impact the news articles have on both their own reputation and the …
Persistent link: https://www.econbiz.de/10012922475
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Do Auditors Accurately Predict Litigation and Reputation Consequences of Inaccurate Accounting Estimates?
Gimbar, Christine; Mercer, Molly - 2020
To effectively manage audit risk, auditors must correctly predict the potential litigation and reputation consequences … correctly anticipate these litigation and reputation outcomes. We provide manager- and partner-level auditors with case facts … reputation with the general public. Similar to our litigation results, we find that auditors tend to overestimate the article …
Persistent link: https://www.econbiz.de/10014361864
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The nexus between analyst forecast dispersion and expected returns surrounding stock market crashes
Chong, Terence Tai-Leung; Wang, Xiaolei - In: Journal of risk and financial management : JRFM 2 (2009) 1, pp. 75-93
The performance of analysts’ forecasts has attracted increasing attention in recent years. However, as yet, no empirical study has investigated the nexus between the analyst forecast dispersion (AFD) and excess returns surrounding stock market crashes in any depth. This paper attempts to fill...
Persistent link: https://www.econbiz.de/10011556115
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Do Managers Always Know Better? Relative Accuracy of Management and Analyst Forecasts
Hutton, Amy P. - 2012
We examine the relative accuracy of management and analyst forecasts of annual EPS. We predict and find that analysts' information advantage resides at the macroeconomic level. They provide more accurate earnings forecasts than management when a firm's fortunes move in concert with macroeconomic...
Persistent link: https://www.econbiz.de/10013107227
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Bidder Earnings Forecasts in Mergers and Acquisitions
Amel-Zadeh, Amir - 2019
forecast disclosure only accrue to bidders with a strong forecasting reputation prior to the acquisition. Explaining why not … forecasting reputation and for those that underperform post-merger …
Persistent link: https://www.econbiz.de/10012905443
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Determinants of Management Earnings Forecasts : The Case of Global Shipping IPOs
Drobetz, Wolfgang - 2018
Companies that go public on global stock markets are not obliged to disclose earnings forecasts in their prospectuses. We use this fact to examine the shipping sector, where most firms issue earnings forecasts during the IPO process, and provide unique, international-level evidence. We find...
Persistent link: https://www.econbiz.de/10012940288