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Exploration Intensity, Analysts’ Private Information Development and Their Forecast Performance

Chen, Xiaomeng - 2018

This study examines whether analysts in the extractive industries in Australia adjust their private information searching and processing in response to the complexity of information about a firm's exploration and evaluation (E&E) activities. We find that both the proportion of private...

Persistent link: https://www.econbiz.de/10012940325

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

The Best of Times, the Worst of Times : Testing Which Behavioural Biases Affect Analyst Forecasts

Chang, Yuk Ying (Candie) - 2017

implications for analysts' forecast errors conditioned on the errors being positive and negative. We then use proxies for positive …

Persistent link: https://www.econbiz.de/10012944174

Strategic Distortions in Analyst Forecasts in the Presence of Short-Term Institutional Investors

Bilinski, Pawel - 2018

We document that analysts cater to short-term investors by issuing optimistic target prices. Catering dominates among analysts at brokers without an investment banking arm as they face lower reputational cost. The market does not see through the analyst catering activity and their forecasts lead...

Persistent link: https://www.econbiz.de/10012937400

Do Investors Fully Unravel Persistent Pessimism in Analysts’ Earnings Forecasts?

Veenman, David - 2018

' earnings forecasts. We show that measures of prior consensus and individual analyst forecast pessimism are predictive of both … with a relatively high probability of forecast pessimism experience significantly higher announcement returns than those … difficulty investors have in identifying differences in expected forecast pessimism. Overall, we conclude that market prices do …

Persistent link: https://www.econbiz.de/10012937538

Why Do Security Analysts Issue Early Forecasts?

Balashov, Vadim S. - 2019

I study security analysts' early forecasts. Forecasts with over one-year horizons constitute nearly one-half of all analysts' forecasts. I find that the demand for early forecasts is driven by long-term institutional investors and that analyst skills and resources are more important for...

Persistent link: https://www.econbiz.de/10012869682

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

Information Diffusion in Analyst Portfolios

Petzev, Ivan - 2017

(integrated) production of information. Nonetheless, this paper documents significant stock return and forecast revision …

Persistent link: https://www.econbiz.de/10012967356

From Print to Practice : XBRL Extension Use and Analyst Forecast Properties

Kirk, Marcus - 2016

forecast accuracy. These results are consistent with the proposition that, while analysts apparently find XBRL data to be …

Persistent link: https://www.econbiz.de/10012984942