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On the anomalous stock price reponse to management earnings forecasts

Das, Somnath; Kim, Ryonghee; Patro, Sukesh - In: Journal of business finance & accounting : JBFA 39 (2012) 7/8, pp. 905-935

Persistent link: https://www.econbiz.de/10009682462

Efficient market hypothesis and fundamental analysis : an empirical test in the European securities market

Campanella, Francesco; Mustilli, Mario; D'Angelo, Eugenio - In: Review of economics & finance 6 (2016) 1, pp. 27-42

Persistent link: https://www.econbiz.de/10011448634

Analyst Forecast Errors and Stock Price Behavior Near the Earnings Announcement Dates of LIFO Adopters

Biddle, Gary C. - 2010

Ricks [1982] found that stock returns near the earnings disclosure dates of 1974 LIFO adopters were negative and significantly lower than returns near the earnings disclosure dates of firms not using LIFO.Given that firms adopting LIFO in 1974 were voluntarily switching to an accounting method...

Persistent link: https://www.econbiz.de/10013138029

When Two Anomalies Meet : The Post – Earnings Announcement Drift and the Value – Glamour Anomaly

Yan, Zhipeng - 2011

This study of the post – earnings announcement drift and the value – glamour anomaly finds that value stocks have greater information uncertainty, exhibit more-muted initial market reactions to earnings surprises, and have better (more positive or less negative) post – earnings...

Persistent link: https://www.econbiz.de/10013118188

Implications of Analyst Forecasts at the Time of Earnings Announcements for Market Reactions to Earnings Announcements

Lobo, Gerald J. - 2011

Theory suggests that the informativeness of price at the time of an earnings announcement increases with the number of informed traders who possess superior information to process news from firm disclosures (Kyle 1985; Admati and Pfleiderer 1988; Kim and Verrecchia 1994). In this paper, we investigate...

Persistent link: https://www.econbiz.de/10013120980

'Hidden Recommendations' : A Re-Classification of Stock Recommendations

Espinosa, Ronald - 2013

inconsistencies between recommendation and implied return would be explained by analysts' incentives to bias the stock recommendation …

Persistent link: https://www.econbiz.de/10013087377

Evaluating Analysts’ Value : Evidence from Recommendations around Stock Price Jumps

Jiang, George J. - 2009

. Consistent with the literature, we find that analysts revise their recommendations more frequently on days with jumps in stock … jumps - which are less likely influenced by confounding corporate events - we still find that these revisions contain … significant price information. The added value is most pronounced for upgrades following positive jumps, with an extra 4 …

Persistent link: https://www.econbiz.de/10013156299

Measuring the Added Value of Stock Recommendations

Anderson, Anders - 2019

Using data from the Stockholm Stock Exchange we study the value added by (as distinct from the abnormal returns to) analysts' recommendations. Recommending brokers' clients trade profitably around positive recommendations at the expense of other brokers' clients. Significant profits come from...

Persistent link: https://www.econbiz.de/10012903672

Disagreement, Underreaction, and Stock Returns

Cen, Ling - 2017

We explore analysts' earnings forecast data to improve upon one popular disagreement measure — the analyst forecast dispersion measure — proposed by Diether, Malloy, and Scherbina (2002). Our analysis suggests that changes in the standard deviations of forecasted earnings can work as a...

Persistent link: https://www.econbiz.de/10012974829

Analysts' Forecast Dispersion and Stock Split Announcements

Iannino, Maria Chiara - 2016

This paper is an empirical investigation of the relation between the dispersion on analysts' earnings forecasts and the future performance following a change in the nominal price of shares. On a sample of US splits occurred from 1993 to 2013, we observe a change in the distribution of analysts'...

Persistent link: https://www.econbiz.de/10013004989