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Can Day Trading Really Be Profitable? Evidence of Sustainable Long-term Profits from Opening Range Breakout (ORB) Day Trading Strategy vs. Benchmark in the US Stock Market
Zarattini, Carlo; Aziz, Andrew - 2023
The validity of day trading as a long-term consistent and uncorrelated source of income for traders and investors has always been a matter of debate. In this paper, we investigate the profitability of the well-known Opening Range Breakout (ORB) strategy during the period of 2016 to 2023. This...
Persistent link: https://www.econbiz.de/10014355221
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The Effects of Investors' Information Acquisition On Sell-Side Analysts Forecast Bias
Astaiza-Gómez, José - 2021
In this research I empirically study the effects of information acquisition by investors or traders on analysts' forecast bias. Based on the theoretical literature on sell-side analysts, I argue that forecast bias is correlated to investors' information gathering, in two opposite directions. On...
Persistent link: https://www.econbiz.de/10013220851
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Do price-earnings ratios explain investment decisions better than Tobin's q? : evidence from German firm-level data
Pietrovito, Filomena - In: Applied economics 48 (2016) 34/36, pp. 3264-3276
Persistent link: https://www.econbiz.de/10011617227
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Sell-side analysts' benchmarks
Kadan, Ohad; Madureira, Leonardo; Wang, Rong; Zach, Tzachi - In: The accounting review : a publication of the American … 95 (2020) 1, pp. 211-232
Persistent link: https://www.econbiz.de/10012163193
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Redrawing the line : narrowly beating analyst forecasts and journalists' co-coverage choices in earnings-related news articles
Xia, Jingjing - In: Journal of contemporary accounting & economics 19 (2023) 3, pp. 1-22
Persistent link: https://www.econbiz.de/10014483024
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Ambiguity aversion and beating benchmarks : does it create a pattern?
Kolasinski, Adam; Li, Xu; Soliman, Mark; Xin, Qian - In: Management science : journal of the Institute for … 69 (2023) 11, pp. 7059-7078
Persistent link: https://www.econbiz.de/10014435458
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Product Competitiveness and Beating Analyst Earnings Target
Luo, Xueming - 2014
While Wall Street closely watches financial analysts' earnings forecasts, Main Street often scrutinizes product quality relative to competition. Do firms with superior product competitiveness enjoy greater likelihood of beating analyst earnings target? And if so, is there contingency in this...
Persistent link: https://www.econbiz.de/10013064014
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Overvalued Equity, Benchmark Beating and Unexpected Accruals
Coulton, Jeffrey - 2014
We investigate the extent to which the overvaluation hypothesis provides incentives for managers to beat earnings benchmarks, and whether this benchmark beating can be reliably interpreted as evidence of earnings management. We carefully identify firms immediately above earnings benchmarks that...
Persistent link: https://www.econbiz.de/10013065526
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Institutional Investors, Heterogeneous Benchmarks and the Comovement of Asset Prices
Buffa, Andrea M - 2018
these benchmarking-induced spillovers by analyzing shock elasticities and cross-elasticities of price-dividend ratios, and … benchmarks, and demonstrate how heterogeneous benchmarking generates a mechanism through which fundamental shocks propagate … across assets. Fluctuations in asset managers' capital invested for benchmarking purposes, scaled by the size of the economy …
Persistent link: https://www.econbiz.de/10012910534
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Equilibrium Effects of Intraday Order-Splitting Benchmarks
Choi, Jin Hyuk - 2020
This paper presents a continuous-time model of intraday trading, pricing, and liquidity with dynamic TWAP and VWAP benchmarks. The model is solved in closed-form for the competitive equilibrium and also for non-price-taking equilibria. The intraday trajectories of TWAP trading targets cause...
Persistent link: https://www.econbiz.de/10012852621