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A direct test of the cognitive bias theory of share price reversals

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  • Klein, April
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    Article provided by Elsevier in its journal Journal of Accounting and Economics.

    Volume (Year): 13 (1990)
    Issue (Month): 2 (July)
    Pages: 155-166

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    Handle: RePEc:eee:jaecon:v:13:y:1990:i:2:p:155-166

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    Web page: http://www.elsevier.com/locate/jae

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    Cited by:
    1. Friesen, Geoffrey & Weller, Paul A., 2006. "Quantifying cognitive biases in analyst earnings forecasts," Journal of Financial Markets, Elsevier, vol. 9(4), pages 333-365, November.
    2. Philip Baird & Pinar Geylani & Jeffrey Roberts, 2012. "Corporate Social and Financial Performance Re-Examined: Industry Effects in a Linear Mixed Model Analysis," Journal of Business Ethics, Springer, vol. 109(3), pages 367-388, September.
    3. Mikhail, Michael B. & Walther, Beverly R. & Willis, Richard H., 2003. "The effect of experience on security analyst underreaction," Journal of Accounting and Economics, Elsevier, vol. 35(1), pages 101-116, April.
    4. Huijgen, Carel & Plantinga, Auke, 1999. "Analysts' earnings forecasts and international asset allocation," Research Report 99E38, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    5. Abarbanell, Jeffery & Lehavy, Reuven, 2003. "Biased forecasts or biased earnings? The role of reported earnings in explaining apparent bias and over/underreaction in analysts' earnings forecasts," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 105-146, December.
    6. Basyah, Mohammad & Hartigan, James C., 2007. "Analyst earnings forecast revisions and the persistence of antidumping relief," International Review of Economics & Finance, Elsevier, vol. 16(3), pages 383-399.
    7. Aiolfi, Marco & Rodriguez, Marius & Timmermann, Allan G, 2010. "Understanding Analysts' Earnings Expectations: Biases, Nonlinearities and Predictability," CEPR Discussion Papers 7656, C.E.P.R. Discussion Papers.
    8. Kim, Yongtae & Lobo, Gerald J. & Song, Minsup, 2011. "Analyst characteristics, timing of forecast revisions, and analyst forecasting ability," Journal of Banking & Finance, Elsevier, vol. 35(8), pages 2158-2168, August.
    9. Rotheli, Tobias F., 2005. "The illusion of over-optimism in survey data: the case of manufacturers' selling prices," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 34(2), pages 151-159, March.
    10. Louis K. C. Chan & Narasimhan Jegadeesh & Josef Lakonishok, 1995. "Momentum Strategies," NBER Working Papers 5375, National Bureau of Economic Research, Inc.
    11. Chen, An-Sing & Hong, Bi-Shia, 2006. "Institutional ownership changes and returns around analysts' earnings forecast release events: Evidence from Taiwan," Journal of Banking & Finance, Elsevier, vol. 30(9), pages 2471-2488, September.
    12. Eric S. Fung & Kin Lam & Tak-Kuen Siu & Wing-Keung Wong, 2011. "A Pseudo-Bayesian Model for Stock Returns In Financial Crises," Journal of Risk and Financial Management, MDPI, Open Access Journal, vol. 4(1), pages 43-73, December.
    13. Ivkovic, Zoran & Jegadeesh, Narasimhan, 2004. "The timing and value of forecast and recommendation revisions," Journal of Financial Economics, Elsevier, vol. 73(3), pages 433-463, September.
    14. Yu, Susana & Lord, Richard A. & Webb, Gwendolyn, 2010. "The hot-growth companies: How well do analysts predict their performance?," Journal of Economics and Business, Elsevier, vol. 62(3), pages 195-219, May.
    15. Cohen, Daniel A. & Lys, Thomas Z., 2003. "A note on analysts' earnings forecast errors distribution," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 147-164, December.
    16. Kothari, S. P., 2001. "Capital markets research in accounting," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 105-231, September.
    17. Chaney, Paul K. & Hogan, Chris E. & Jeter, Debra C., 1999. "The effect of reporting restructuring charges on analysts' forecast revisions and errors," Journal of Accounting and Economics, Elsevier, vol. 27(3), pages 261-284, July.

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