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Earnings Announcements : Good News for Institutional Investors and Short Sellers

Berkman, Henk - 2010

ability to profit from post-earnings announcement drift. The more muted reaction of institutional traders to earnings releases …

Persistent link: https://www.econbiz.de/10013149205

Analysts' disagreement, self-selection, and stock returns

Wu, Liang; Long, Yunshen; Li, Wenyue; Wu, Bingyan - In: Journal of business economics and management 24 (2023) 1, pp. 37-53

Two ex-ante variables are introduced to characterize the analysts' biased behavior, namely the analysts' disagreement and self-selection in analysts' earnings forecasts. The study investigates the impact of the analysts' disagreement and self-selection on the stock returns. A theoretical...

Persistent link: https://www.econbiz.de/10014330637

Investor's inattention and earnings announcement effects on tomb-sweeping day in China

Feng, Qingchen; Ning, Dengyun; Zhang, Wan; Zhou, Rui - In: Credit and capital markets : Kredit und Kapital 55 (2022) 2, pp. 291-320

This study investigates the relationship between investor inattention and earnings announcement effects around a Chinese holiday called Tomb-Sweeping Day, which, unlike other holidays, is short. Not only is investor attention distracted, which can generate emotional fluctuation, but a large...

Persistent link: https://www.econbiz.de/10014518585

Does Revenue Momentum Drive or Ride Earnings or Price Momentum?

Chen, Hong-Yi - 2013

This paper examines the profits of revenue, earnings, and price momentum strategies in an attempt to understand investor reactions when facing multiple information of firm performance in various scenarios. We first offer evidence that there is no dominating momentum strategy among the revenue,...

Persistent link: https://www.econbiz.de/10013094993

Demand models, revenue curves and profit

Eben-Chaime, Moshe - In: Athens journal of business & economics : AJBE 9 (2023) 2, pp. 221-230

Persistent link: https://www.econbiz.de/10014384896

Strategic Revenue Recognition to Achieve Earnings Benchmarks

Caylor, Marcus L. - 2009

I examine whether managers use discretion in revenue recognition to avoid three earnings benchmarks. I find that managers use discretion in both accrued revenue (i.e., accounts receivable) and deferred revenue (i.e., advances from customers) to avoid negative earnings surprises, but find little...

Persistent link: https://www.econbiz.de/10013157615

Asset price effects of peer benchmarking : evidence from a natural experiment

Acharya, Sushant; Pedraza, Alvaro - 2015

We estimate the effects of peer benchmarking by institutional investors on asset prices. To identify trades purely due … to peer benchmarking as separate from those based on fundamentals or private information, we exploit a natural experiment … component of demand that is caused by peer benchmarking. We find that these peer effects generate excess stock return volatility …

Persistent link: https://www.econbiz.de/10010514042

Is Zero Return a Natural Benchmark for Investors? An Investigation with Individual Trading Records

Chhabra, Rahul - 2012

Using a unique and large dataset of trading records, we find that individual investors view zero returns as a natural benchmark for their trading performance. They increase both buy and sell trading volume if their past investment outcomes are positive, and decrease them if the outcomes are...

Persistent link: https://www.econbiz.de/10013114715

Managing earnings surprises in Japan : perspectives from main bank relationships and institutional ownership

Baik, Bok; Choi, Wooseok - In: Journal of business finance & accounting : JBFA 37 (2010) 5/6, pp. 495-517

Persistent link: https://www.econbiz.de/10008698696

Asset Price Fluctuations, Financial Crises and the Stabilizing Effects of a General Transaction Tax

Schulmeister, Stephan - 2010

The deepening of the recent crisis was driven by the simultaneous devaluation of stock wealth, housing wealth and commodity wealth. The potential for this devaluation process had been “built up” during the boom of stock prices, house prices and commodity prices between 2003 and 2007. Hence,...

Persistent link: https://www.econbiz.de/10013135724