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Filiz, Ibrahim; Judek, Jan René; Lorenz, Marco; … - In: Journal of risk and financial management : JRFM 14 (2021) 12, pp. 1-27

future. In addition, we draw on some contemporary measures of forecast quality (prediction-realization diagram, test of …

Persistent link: https://www.econbiz.de/10012799168

Are Expectations Misled by Chance? Quasi-Experimental Evidence from Financial Analysts

Meier, Pascal Flurin; Flepp, Raphael; Franck, Egon - 2023

We examine whether finance professionals deviate from Bayes’ theorem on the processing of nondiagnostic information when forecasting quarterly earnings. Using field data from sell-side financial analysts and employing a regression discontinuity design, we find that analysts whose forecasts...

Persistent link: https://www.econbiz.de/10014254030

Signal Strength, Conflicting Signals and Beliefs Updating : Evidence From Sell-Side Analysts' Forecasts

Astaiza-Gómez, José - 2021

. Afterwards I use target prices to measure forecast bias and the growth in Earnings Per Share as signals, and regress analysts …' forecast bias over different deciles of favorable signals interacted with prior negative forecast bias in a dynamic panel data …I empirically study how confirmatory bias works for strong and contradictory signals using data on sell-side analysts …

Persistent link: https://www.econbiz.de/10013221219

Return prediction or investor manipulation? Recommendations of non-professional analysts and stock price movement

Breuer, Wolfgang; Knetsch, Andreas; Sachsenhausen, Eric - 2022

We examine article, author and firm characteristics of investment articles published by non-professional analysts on the social media investment platform Seeking Alpha from 2006 to 2020 leading to visible market value changes. We show that there are differences between articles followed by stock...

Persistent link: https://www.econbiz.de/10013290160

The impact of analyst-investor disagreement on the cross-section of implied cost of capital

Makrominas, Michalis - In: Australian journal of management 40 (2015) 2, pp. 224-244

Persistent link: https://www.econbiz.de/10011342894

Human vs. machine: disposition effect among algorithmic and human day traders

Liaudinskas, Karolis - 2022

This paper studies whether and why algorithmic traders exhibit one of the most broadlydocumented behavioral puzzles - the disposition effect. We use trade data from the NASDAQ Copenhagen Stock Exchange merged with the weather data. We find that on average, the disposition effect for human...

Persistent link: https://www.econbiz.de/10013207355

Predicting the unpredictable : new experimental evidence on forecasting random walks

Te, Bao; Corgnet, Brice; Hanaki, Nobuyuki; Riyanto, … - 2022

We investigate how individuals use measures of apparent predictability from price charts to predict future market prices. Subjects in our experiment predict both random walk times series, as in the seminal work by Bloomfield & Hales (2002) (BH), and stock price time series. We successfully...

Persistent link: https://www.econbiz.de/10013285949

When sell-side analysts meet high-volatility stocks : an alternative explanation for the low-volatility puzzle

Hsu, Jason C.; Kudoh, Hideaki; Yamada, Toru - In: Journal of investment management : JOIM 11 (2013) 2, pp. 28-46

Persistent link: https://www.econbiz.de/10009763924

The role of anchoring bias in the equity market : evidence from analysts' earnings forecasts and stock returns

Cen, Ling; Hilary, Gilles; Wei, K. C. John - In: Journal of financial and quantitative analysis : JFQA 48 (2013) 1, pp. 47-76

Persistent link: https://www.econbiz.de/10009772412

Analysts' and investors' reactions to conistent earnings signals

Caylor, Marcus L.; Chritensen, Theodore E.; Johnson, … - In: Journal of business finance & accounting : JBFA 42 (2015) 9/10, pp. 1041-1074

Persistent link: https://www.econbiz.de/10011535854

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