Narrow search
Showing 1 - 10 of 9,100
Cover Image
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
Cover Image
A Double-Hurdle Approach to the Analysis of Factors Affecting Dividend Payouts by Firms Issuing Restricted Stocks
Duangploy, Orapin - 2011
The recent financial scandals, backdating problems, expensing of options and increasing use of restricted stocks have affected the cash dividend payout policies of firms, especially of those issuing restricted stocks. This research examines the accounting, financial and demographic variables...
Persistent link: https://www.econbiz.de/10013128767
Cover Image
Why Does Financial Strength Forecast Future Stock Returns? Evidence from Subsequent Demand by Institutional Investors
Choi, Nicole Y. - 2011
time and, (2) riskier firms - with higher discount rates - require greater profitability to generate the same valuation …
Persistent link: https://www.econbiz.de/10013134140
Cover Image
On the Myth of Size Premiums in Corporate Valuation : Some Empirical Evidence from the German Stock Market
Baetge, Jorg - 2010
It is common practice in corporate valuation with discounted cash flow models to refer to the Capital Asset Pricing … whether to adjust the discount rate by adding a size premium for smaller companies, as valuation advisors already partially do … market between 1995 and 2008, this paper questions the size adjustment in corporate valuation. However, it is not just …
Persistent link: https://www.econbiz.de/10013139488
Cover Image
Effects of Dividend Ratios and Other Fundamentals on Forward P/Es - Some Evidences from a Worldwide Cross-Sectional Multivariate Analysis
Taliento, Marco - 2012
This study seeks to regress the forward P/Es on firms' fundamentals as measured on global market basis. Starting from theoretical premises (DDM), the paper develops a linear multivariate model in order to capture (for US, Australia / New Zeland / Canada, Europe, Japan and Emerging Markets quoted...
Persistent link: https://www.econbiz.de/10013098080
Cover Image
Implications of Analysts’ Consensus Forecast Error for Measurement of Market Expectation and Predictability of Stock Returns
Kim, Jung Hoon - 2012
In recent studies, the analysts' consensus forecasts are widely used as a proxy for the unobservable market's consensus expectation of future earnings. As prior studies indicate, the analysts' consensus forecasts measure the true underlying construct with errors and the errors may vary...
Persistent link: https://www.econbiz.de/10013102171
Cover Image
Do Reconciliations of Segment Earnings Affect Stock Prices?
Hollie, Dana - 2012
While SFAS No. 131 is intended to increase the transparency of financial reporting using a “management approach,” it may reduce shareholders' ability to interpret segment disclosures relative to the ‘industry approach' employed under SFAS No.14. This study investigates whether segment...
Persistent link: https://www.econbiz.de/10013107641
Cover Image
An Analysis of Stock Returns and Aggregate Earnings
Chen, Yunhao - 2012
We reexamine the time-series properties and determinants of the relation between aggregate earnings and returns (earnings response coefficient, ERC) employing return decompositions with longer historical data. We find that aggregate ERC is time-varying, above and beyond the evidence documented...
Persistent link: https://www.econbiz.de/10013109120
Cover Image
The Impact of Forward-Looking Information Quality on Analysts’ Behaviour – Evidence from Germany
Eisenschmidt, Karsten - 2013
We analyze the quality of forward-looking information in the management reports (MR) of listed German corporations and the impact of differences in that quality on analysts' behaviour. For several years, German corporations are bounded to provide forward-looking information separately for the...
Persistent link: https://www.econbiz.de/10013085901
Cover Image
Market Reaction to an Earnings Shock : A Test of the Conservatism Effect
Alwathainani, Abdulaziz M. - 2014
In this paper, I empirically test the conservatism effect of Barberis, Shleifer and Vishny (1998). Conditioning on a shock to quarterly earnings, firms ranking in the top (bottom) earnings shock quintile exhibit substantial price momentum over the next three-month periods following the initial...
Persistent link: https://www.econbiz.de/10013068900