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Modelling analysts’ target price revisions following good and bad news?

Modelling analysts’ target price revisions following good and bad news?

 Ho, Q. Tuan.
 2018.
 p. 37-61. English
Price Market.Thị trường giá cả.Chứng khoán.Empirical analysis.Excess stock returns.Phân tích thực nghiệm.Target price revisions.Tổng kết giá.+ 1 từ khóa
Tác giả CN Ho, Q. Tuan.
Nhan đề Modelling analysts’ target price revisions following good and bad news? / Ho Q Tuan, Norman Strong, Martin Walker.
Thông tin xuất bản 2018.
Mô tả vật lý p. 37-61.
Tóm tắt We study the relation between analysts’ target price revisions and recent market returns, excess stock returns, and other analysts’ target price revisions. Empirical results show that, after controlling for earnings forecast and recommendation revisions, target price revisions are associated with each of these information sources. We also find that target price revisions are more sensitive to negative than to positive excess stock returns. We conjecture that firms’ tendency to withhold bad news, while releasing good news promptly, drives this effect and, using proxies for firms’ withholding of bad news, we report evidence supporting this hypothesis.
Thuật ngữ chủ đề Price Market.
Thuật ngữ chủ đề Thị trường giá cả.
Từ khóa tự do Chứng khoán.
Từ khóa tự do Empirical analysis.
Từ khóa tự do Excess stock returns.
Từ khóa tự do Phân tích thực nghiệm.
Từ khóa tự do Target price revisions.
Từ khóa tự do Tổng kết giá.
Từ khóa tự do Withholding bad news.
Tác giả(bs) CN Walker, Martin.
Tác giả(bs) CN Strong, Norman.
Nguồn trích Accounting and Business Research- Vol.48, No.1
MARC
Hiển thị đầy đủ trường & trường con
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245[1 0] |a Modelling analysts’ target price revisions following good and bad news? / |c Ho Q Tuan, Norman Strong, Martin Walker.
260[ ] |c 2018.
300[1 0] |a p. 37-61.
520[ ] |a We study the relation between analysts’ target price revisions and recent market returns, excess stock returns, and other analysts’ target price revisions. Empirical results show that, after controlling for earnings forecast and recommendation revisions, target price revisions are associated with each of these information sources. We also find that target price revisions are more sensitive to negative than to positive excess stock returns. We conjecture that firms’ tendency to withhold bad news, while releasing good news promptly, drives this effect and, using proxies for firms’ withholding of bad news, we report evidence supporting this hypothesis.
650[1 0] |a Price Market.
650[1 0] |a Thị trường giá cả.
653[0 ] |a Chứng khoán.
653[0 ] |a Empirical analysis.
653[0 ] |a Excess stock returns.
653[0 ] |a Phân tích thực nghiệm.
653[0 ] |a Target price revisions.
653[0 ] |a Tổng kết giá.
653[0 ] |a Withholding bad news.
700[1 ] |a Walker, Martin.
700[1 ] |a Strong, Norman.
773[ ] |t Accounting and Business Research |g Vol.48, No.1
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