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Do Institutional Investors Prefer Near-Term Earnings Over Long-Run Value?
13 references·16 citing·55 second hopsampled
Do Institutional Investors Prefer Near-Term Earnings Over Long-Run Value? (1999)Do Institutional Investors Prefer Near-Te…The Influence of Institutional Investors on Myopic R&D Investment Behavior (1998)The Influence of Institutiona…Accounting valuation, market expectation, and cross-sectional stock returns (1998)Accounting valuation, market …The distorting effect of the prudent-man laws on institutional equity investments (1996)The distorting effect of the …Preferences for Stock Characteristics As Revealed by Mutual Fund Portfolio Holdings (1996)Preferences for Stock Charact…Economic “Short-Termism”: The Debate, The Unresolved Issues, and The Implications for Management Practice and Research (1996)Economic “Short-Termism”: The…Earnings, Book Values, and Dividends in Equity Valuation* (1995)Earnings, Book Values, and Di…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Herd on the Street: Informational Inefficiencies in a Market with Short‐Term Speculation (1992)Herd on the Street: Informati…CAPITAL CHOICES: CHANGING THE WAY AMERICA INVESTS IN INDUSTRY (1992)CAPITAL CHOICES: CHANGING THE…EFFECTS OF BOARD AND OWNERSHIP STRUCTURE ON CORPORATE R&D STRATEGY. (1991)EFFECTS OF BOARD AND OWNERSHI…Are institutional investors myopic? A time‐series study of four technology‐driven industries (1991)Are institutional investors m…Analyst Following and Institutional Ownership (1990)Analyst Following and Institu…The relationship between earnings' yield, market value and return for NYSE common stocks (1983)The relationship between earn…Stock Liquidity and Stock Price Crash Risk (2017)Stock Liquidity and Stock Pri…Institutional Investor Cliques and Governance (2017)Institutional Investor Clique…Taste, information, and asset prices: implications for the valuation of CSR (2016)Taste, information, and asset…Patient capital outperformance: The investment skill of high active share managers who trade infrequently (2016)Patient capital outperformanc…Family firms, employee satisfaction, and corporate performance (2015)Family firms, employee satisf…Institutional Investor Preferences for Corporate Governance Mechanisms (2013)Institutional Investor Prefer…Distracted Shareholders and Corporate Actions (2013)Distracted Shareholders and C…Institutional Shareholders' Investment Horizons and Tax Avoidance (2012)Institutional Shareholders' I…The Impact of a Corporate Culture of Sustainability on Corporate Behavior and Performance (2011)The Impact of a Corporate Cul…Institutional investment horizon and investment–cash flow sensitivity (2011)Institutional investment hori…Earnings Management and Firm Performance Following Open‐Market Repurchases (2008)Earnings Management and Firm …Which Institutional Investors Trade Based on Private Information About Earnings and Returns? (2007)Which Institutional Investors…The Persistence of the Accruals Anomaly* (2006)The Persistence of the Accrua…Investor Relations, Firm Visibility, and Investor Following (2005)Investor Relations, Firm Visi…How Informed Are Actively Trading Institutional Investors? Evidence from Their Trading Behavior before a Break in a String of Consecutive Earnings Increases (2004)How Informed Are Actively Tra…Do institutional investors exploit the post-earnings announcement drift? (2004)Do institutional investors ex…The Capital Structure Puzzle (1984)Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (1996)Earnings management to avoid earnings decreases and losses (1997)A Review of the Earnings Management Literature and Its Implications for Standard Setting (1999)Earnings Management through Real Activities Manipulation (2003)The economic implications of corporate financial reporting (2005)The Modern Corporation and Private Property (1933)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Structure of Corporate Ownership: Causes and Consequences (1985)POWER IN TOP MANAGEMENT TEAMS: DIMENSIONS, MEASUREMENT, AND VALIDATION. (1992)Measuring innovative performance: is there an advantage in using multiple indicators? (2003)Corporate responsibility and financial performance: the role of intangible resources (2009)Common risk factors in the returns on stocks and bonds (1993)Contrarian Investment, Extrapolation, and Risk (1994)Investor Sophistication and Patterns in Stock Returns after Earnings Announcements (2000)Greener Pastures and the Impact of Dynamic Institutional Preferences (2003)Religious beliefs, gambling attitudes, and financial market outcomes (2011)The General Theory of Employment, Interest and Money. (1936)Continuous Auctions and Insider Trading (1985)Noise Trader Risk in Financial Markets (1990)Following the Pied Piper: Do Individual Returns Herd around the Market? (1995)The portfolio flows of international investors (2001)Institutional Herding (2003)An Empirical Evaluation of Accounting Income Numbers (1968)The Information Content of Annual Earnings Announcements (1968)A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)Analyst Following of Initial Public Offerings (1997)Stock price synchronicity and analyst coverage in emerging markets (2005)Can Twitter Help Predict Firm-Level Earnings and Stock Returns? (2017)Judgment under Uncertainty: Heuristics and Biases (1974)Judgment under Uncertainty: Heuristics and Biases (1975)Overconfidence, Arbitrage, and Equilibrium Asset Pricing (2001)Profitability, investment and average returns (2006)Replicating Anomalies (2018)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)The Theory and Measurement of Business Income (1961)Valuation and Clean Surplus Accounting for Operating and Financial Activities* (1995)Capital markets research in accounting (2001)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)Risk, Return, and Equilibrium: Empirical Tests (1973)A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory (1977)The relationship between return and market value of common stocks (1981)Noise (1986)Evidence on the Characteristics of Cross Sectional Variation in Stock Returns (1997)Chapter 18 A survey of behavioral finance (2003)Limited-dependent and qualitative variables in econometrics (1983)A Simple Model of Herd Behavior (1992)Idiosyncratic Risk Matters! (2003)Market Frictions, Price Delay, and the Cross-Section of Expected Returns (2005)Institutional Investors and Equity Returns: Are Short-term Institutions Better Informed? (2007)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Illiquidity and stock returns: cross-section and time-series effects (2002)
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References

  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1995Earnings, Book Values, and Dividends in Equity Valuation*5,061 cited
  • 1998The Influence of Institutional Investors on Myopic R&D Investment Behavior3,013 cited
  • 1983The relationship between earnings' yield, market value and return for NYSE common stocks1,640 cited
  • 1992Herd on the Street: Informational Inefficiencies in a Market with Short‐Term Speculation1,088 cited
  • 1998Accounting valuation, market expectation, and cross-sectional stock returns1,083 cited
  • 1996Preferences for Stock Characteristics As Revealed by Mutual Fund Portfolio Holdings1,057 cited
  • 1991EFFECTS OF BOARD AND OWNERSHIP STRUCTURE ON CORPORATE R&D STRATEGY.949 cited
  • 1990Analyst Following and Institutional Ownership843 cited
  • 1996The distorting effect of the prudent-man laws on institutional equity investments813 cited
  • 1992CAPITAL CHOICES: CHANGING THE WAY AMERICA INVESTS IN INDUSTRY736 cited
  • 1996Economic “Short-Termism”: The Debate, The Unresolved Issues, and The Implications for Management Practice and Research689 cited
  • 1991Are institutional investors myopic? A time‐series study of four technology‐driven industries507 cited

Cited by

  • 2017Stock Liquidity and Stock Price Crash Risk

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490 cited
  • 2013Distracted Shareholders and Corporate Actions414 cited
  • 2007Which Institutional Investors Trade Based on Private Information About Earnings and Returns?396 cited
  • 2008Earnings Management and Firm Performance Following Open‐Market Repurchases364 cited
  • 2011The Impact of a Corporate Culture of Sustainability on Corporate Behavior and Performance361 cited
  • 2004Do institutional investors exploit the post-earnings announcement drift?351 cited
  • 2004How Informed Are Actively Trading Institutional Investors? Evidence from Their Trading Behavior before a Break in a String of Consecutive Earnings Increases317 cited
  • 2013Institutional Investor Preferences for Corporate Governance Mechanisms263 cited
  • 2015Family firms, employee satisfaction, and corporate performance257 cited
  • 2012Institutional Shareholders' Investment Horizons and Tax Avoidance237 cited
  • 2016Taste, information, and asset prices: implications for the valuation of CSR237 cited
  • 2005Investor Relations, Firm Visibility, and Investor Following216 cited
  • 2016Patient capital outperformance: The investment skill of high active share managers who trade infrequently216 cited
  • 2017Institutional Investor Cliques and Governance214 cited
  • 2006The Persistence of the Accruals Anomaly*177 cited
  • 2011Institutional investment horizon and investment–cash flow sensitivity175 cited