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Stock Analysts Efficiency in a Tournament Structure : The Impact of Analysts Picking a Winner and a Loser

Rotthoff, Kurt W. - 2014

A financial analyst who can give accurate return predictions is highly valued. This study uses a unique data set comparing CNBC's Fast Money's ‘March Madness' stock picks as a proxy for analysts' stock return predictions. With this data, set up as a tournament, the analysts pick both a winner...

Persistent link: https://www.econbiz.de/10013068307

Analyst Forecast Bundling

Drake, Michael S. - 2019

is a cost-saving measure, a natural byproduct of analysts focusing on thematic research, and a reflection of forecast … forecast bundling has important implications for the properties of analysts' forecasts …

Persistent link: https://www.econbiz.de/10012902228

An Analyst by Any Other Surname : Surname Favorability and Market Reaction to Analyst Forecasts

Jung, Jay - 2019

We find that forecast revisions by analysts with more favorable surnames elicit stronger market reactions. The effect … forecast quality, but it has complementary effects with forecast performance on analysts' career outcomes. Surname favorability … mitigates under-reaction to forecast revisions. These findings are distinct from the effects of ethnic, cultural proximity, or …

Persistent link: https://www.econbiz.de/10012902967

Analysts' Technological Expertise

Tan, Hongping - 2019

also increases their earnings forecast accuracy and recommendation profitability, especially for firms with more intensive … is an important analyst trait that affects analysts' coverage decisions and forecast performance …

Persistent link: https://www.econbiz.de/10012903375

The Strategic Timing of Analyst Forecasts

Xiao, Kerry - 2019

Earnings expectation aggregates all available information. However, investors with limited attention are unlikely to behave in such rational fashions. For example, salient information is overweighed in the expectation. This bias could be exploited by sophisticated market participants like...

Persistent link: https://www.econbiz.de/10012897596

Modeling Analysts’ Recommendations via Bayesian Machine Learning

Bew, David - 2019

We apply state-of-the-art Bayesian machine learning to test whether we can extract valuable information from analysts' recommendations of stock performance. We use a probabilistic model for independent Bayesian classifier combination that has been successfully applied in both the physical and...

Persistent link: https://www.econbiz.de/10012897756

Local Predictive Ability of Analyst Recommendations

Karadas, Serkan - 2017

This article shows that aggregate analyst recommendations predict future aggregate excess returns at MSA and state level (i.e. local level). The results hold even after controlling for macroeconomic variables, industry and market returns, as well as investor sentiment. We also show that the...

Persistent link: https://www.econbiz.de/10012943568

Do Information Releases Increase or Decrease Information Asymmetry? New Evidence from Analyst Forecast Announcements

Amiram, Dan - 2016

We use analyst earnings forecasts as a setting to examine a fundamental question concerning the effect of a public information release on announcement-period information asymmetry. Prior literature documents an announcement-period increase in information asymmetry for earnings announcements and...

Persistent link: https://www.econbiz.de/10013007946

Stock Analysts Efficiency in a Tournament Structure : The Impact of Analysts Picking a Winner and a Loser

Rotthoff, Kurt W. - 2015

Persistent link: https://www.econbiz.de/10013012423

First Impression Bias : Evidence from Analyst Forecasts

Hirshleifer, David A. - 2020

We present evidence of first impression bias among finance professionals in the field. Equity analysts' forecasts, target prices, and recommendations suffer from first impression bias. If a firm performs particularly well (poorly) in the year before an analyst follows it, that analyst tends to...

Persistent link: https://www.econbiz.de/10012849770