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An Experimental Study of Overconfidence in Accounting Numbers Predictions

Bar-Yosef, Sasson; Venezia, Itzhak - In: International Journal of Economic Sciences 2014 (2014) 1, pp. 78-89

This paper analyzes experimentally investors' overconfidence when making predictions of financial and accounting … overconfidence. We also compare the extent to which professional analysts differ from other investors in that respect. For this we … overconfidence. The professional analysts were slightly more overconfident than the students. Subjects showed more overconfidence in …

Persistent link: https://www.econbiz.de/10011195081

Does Human Psychology Drive Financial Markets? Evidence from International Markets

Dhaoui, Abderrazak; Khraief, Naceur - In: International Journal of Economics and Empirical … 2 (2014) 3, pp. 100-108

This paper provides the first evidence for empirical tests of the effect of rational expectations as well as behavioral biases, including among other animal spirits such as defined by Akerlof and Shiller (2009) on the variability of trading.We have used daily data for five international capital...

Persistent link: https://www.econbiz.de/10010902142

THE IMPACT OF INVESTOR PSYCHOLOGY ON STOCK MARKETS: EVIDENCE FROM FRANCE

DHAOUI, ABDERRAZAK; BOUROUIS, SAAD; BOYACIOGLU, MELEK ACAR - In: Journal of Academic Research in Economics 5 (2013) 1 (June), pp. 35-59

This paper provides the first evidence for empirical sensitivity of trading volume to human psychological factors. We review therefore extensive evidence about how human psychology affects investor behavior and trading volume. Using the data for individual stocks listed on the CAC40 Stock Market...

Persistent link: https://www.econbiz.de/10010692156

The accuracy of financial analysts’ earnings forecasts and the Tunisian market reliance with time

Ahmed, Bouteska; Boutheina, Regaieg - In: Cogent economics & finance 5 (2017) 1, pp. 1-14

Unlike previous studies which have examined the role of financial analysts in developed economies, the aim of this paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the market’s reliance on analyst forecasts, increase with time....

Persistent link: https://www.econbiz.de/10011882305

Forecaster overconfidence and market survey performance

Deaves, Richard; Lei, Jin; Schröder, Michael - In: The journal of behavioral finance : a publication of … 20 (2019) 2, pp. 173-194

Persistent link: https://www.econbiz.de/10012180502

A bibliometric analysis of machine learning econometrics in asset pricing

Zapata, Hector O.; Mukhopadhyay, Supratik - In: Journal of Risk and Financial Management 15 (2022) 11, pp. 1-17

Machine learning (ML) is a novel method that has applications in asset pricing and that fits well within the problem of measurement in economics. Unlike econometrics, ML models are not designed for parameter estimation and inference, but similar to econometrics, they address, and may be better...

Persistent link: https://www.econbiz.de/10014332691

The accuracy of financial analysts' earnings forecasts and the Tunisian market reliance with time

Ahmed, Bouteska; Boutheina, Regaieg - In: Cogent Economics & Finance 5 (2017) 1, pp. 1-14

Unlike previous studies which have examined the role of financial analysts in developed economies, the aim of this paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the market's reliance on analyst forecasts, increase with time....

Persistent link: https://www.econbiz.de/10011988768

The nonlinear price dynamics of U.S. equity ETFs

Caginalp, Gunduz; DeSantis, Mark; Sayrak, Akin - In: Journal of Econometrics 183 (2014) 2, pp. 193-201

We investigate the price dynamics of large market-capitalization U.S. equity exchange-traded funds (ETFs) in order to uncover trader motivations and strategy. We show that prices of highly liquid ETFs can deviate significantly from their daily net asset values. By adjusting for changes in...

Persistent link: https://www.econbiz.de/10011077601

A válság mint negatív információ és bizonytalansági tényező. A válság hatása az egy részvényre jutó nyereség-előrejelzésekre

Jáki, Erika - In: Közgazdasági Szemle (Economic Review - monthly of the … LX (2013) 12, pp. 1357-1369

A szerző a 2008-ban kezdődött gazdasági világválság hatását vizsgálja az egy részvényre jutó nyereség előrejelzésének hibájára. Számos publikáció bizonyította, hogy az elemzők a tényértékeknél szisztematikusan kedvezőbb tervértéket adnak meg az egy részvényre...

Persistent link: https://www.econbiz.de/10010963077

Predicting forecast errors through joint observation of earnings and revenue forecasts

Henderson, Brian J.; Marks, Joseph M. - In: Journal of Banking & Finance 37 (2013) 11, pp. 4265-4277

We propose a simple method to infer the forecast error associated with quarterly estimates of earnings and revenue before the firm announces realized earnings and revenue. The method uses estimates of the profit margin implied by an analyst’s forecasts of both earnings and revenue to identify...

Persistent link: https://www.econbiz.de/10010703244