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- Title
ANALYSTS' FORECAST REPUTATIONS AND STOCK MARKET REACTIONS.
- Authors
Yang, Xiaolou; Chen, Huaiyu Peter
- Abstract
The article presents a study that investigates the influences of analysts' forecast reputations on their forecast accuracy and stock-return reactions. It shows that investors are more responsive to the earnings forecasts made by the analysts with a good reputation, irrespective of whether the forecast contains good or bad news. It suggests that a market force, benefited by having a good reputation, could reduce analysts' incentive to offer biased forecast.
- Subjects
FINANCIAL analysts; EARNINGS forecasting; EARNINGS trends; CORPORATE profits; CORPORATE image; INVESTORS
- Publication
International Journal of Business, Accounting & Finance, 2013, Vol 7, Issue 1, p63
- ISSN
1936-699X
- Publication type
Article