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Do analysts overreact to extreme good news in earnings?

Author

Listed:
  • Zhaoyang Gu

    ()

  • Jian Xue

    ()

Abstract

No abstract is available for this item.

Suggested Citation

  • Zhaoyang Gu & Jian Xue, 2007. "Do analysts overreact to extreme good news in earnings?," Review of Quantitative Finance and Accounting, Springer, vol. 29(4), pages 415-431, November.
  • Handle: RePEc:kap:rqfnac:v:29:y:2007:i:4:p:415-431
    DOI: 10.1007/s11156-007-0037-8
    as

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    File URL: http://hdl.handle.net/10.1007/s11156-007-0037-8
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    References listed on IDEAS

    as
    1. De Bondt, Werner F M & Thaler, Richard H, 1990. "Do Security Analysts Overreact?," American Economic Review, American Economic Association, vol. 80(2), pages 52-57, May.
    2. Gu, Zhaoyang & Wu, Joanna Shuang, 2003. "Earnings skewness and analyst forecast bias," Journal of Accounting and Economics, Elsevier, vol. 35(1), pages 5-29, April.
    3. Kent Daniel & David Hirshleifer & Avanidhar Subrahmanyam, 1998. "Investor Psychology and Security Market Under- and Overreactions," Journal of Finance, American Finance Association, vol. 53(6), pages 1839-1885, December.
    4. Barberis, Nicholas & Shleifer, Andrei & Vishny, Robert, 1998. "A model of investor sentiment," Journal of Financial Economics, Elsevier, vol. 49(3), pages 307-343, September.
    5. David Hirshleifer, 2001. "Investor Psychology and Asset Pricing," Journal of Finance, American Finance Association, vol. 56(4), pages 1533-1597, August.
    6. Harrison Hong & Jeremy C. Stein, 1999. "A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets," Journal of Finance, American Finance Association, vol. 54(6), pages 2143-2184, December.
    7. repec:hrv:faseco:30747159 is not listed on IDEAS
    8. repec:bla:joares:v:35:y:1997:i::p:167-199 is not listed on IDEAS
    9. Dennis Fan & Raymond So & Jason Yeh, 2006. "Analyst Earnings Forecasts for Publicly Traded Insurance Companies," Review of Quantitative Finance and Accounting, Springer, vol. 26(2), pages 105-136, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ryan D. Leece & Todd P. White, 2017. "The effects of firms’ information environment on analysts’ herding behavior," Review of Quantitative Finance and Accounting, Springer, vol. 48(2), pages 503-525, February.
    2. Low, Rand Kwong Yew & Tan, Enoch, 2016. "The role of analyst forecasts in the momentum effect," International Review of Financial Analysis, Elsevier, vol. 48(C), pages 67-84.
    3. Greg Filbeck & Xin Zhao & Ryan Knoll, 2017. "An analysis of working capital efficiency and shareholder return," Review of Quantitative Finance and Accounting, Springer, vol. 48(1), pages 265-288, January.
    4. Raj Aggarwal & Brian M. Lucey & Fergal A. O'Connor, 2014. "Rationality in Precious Metals Forward Markets: Evidence of Behavioural Deviations in the Gold Markets," The Institute for International Integration Studies Discussion Paper Series iiisdp462, IIIS.

    More about this item

    Keywords

    Financial analysts; Earnings forecast; Underreaction; Overreaction; Forecast bias; G29; M41;

    JEL classification:

    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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