SZodixStudyAcademic Library
ShelvesOpen access
Study · an open academic library·Metadata from OpenAlex (CC0)·Shelves·OpenAlex metadata, de-duplicated
Can financial statement analysis beat consensus analysts’ recommendations?
16 references·6 citing·37 second hop
Can financial statement analysis beat consensus analysts’ recommendations? (2010)Can financial statement analysis beat con…Information content of equity analyst reports (2004)Information content of equity…Analyzing the Analysts: When Do Recommendations Add Value? (2004)Analyzing the Analysts: When …Are Selling, General, and Administrative Costs “Sticky”? (2003)Are Selling, General, and Adm…Can Investors Profit from the Prophets? Security Analyst Recommendations and Stock Returns (2001)Can Investors Profit from the…Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers (2000)Value Investing: The Use of H…Abnormal returns to a fundamental analysis strategy. (1998)Abnormal returns to a fundame…Self-Selection and Analyst Coverage (1997)Self-Selection and Analyst Co…Fundamental Analysis, Future Earnings, and Stock Prices (1997)Fundamental Analysis, Future …Do Brokerage Analysts' Recommendations Have Investment Value? (1996)Do Brokerage Analysts' Recomm…Commonality in the determinants of expected stock returns (1996)Commonality in the determinan…Fundamental Information Analysis (1993)Fundamental Information Analy…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Evidence that stock prices do not fully reflect the implications of current earnings for future earnings (1990)Evidence that stock prices do…Evidence of Predictable Behavior of Security Returns (1990)Evidence of Predictable Behav…Financial statement analysis and the prediction of stock returns (1989)Financial statement analysis …Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Analysts, Taxes, and the Information Environment (2019)Analysts, Taxes, and the Info…A framework for identifying accounting characteristics for asset pricing models, with an evaluation of book‐to‐price (2018)A framework for identifying a…Improving Hedging Decisions for Financial Risks of Construction Material Suppliers Using Grey System Theory (2017)Improving Hedging Decisions f…Fundamental analysis of banks: the use of financial statement information to screen winners from losers (2017)Fundamental analysis of banks…Financial Ratios and Firm's Value in the Bahrain Bourse (2014)Financial Ratios and Firm's V……and the Cross-Section of Expected Returns (2013)…and the Cross-Section of Exp…Editor's Choice Digesting Anomalies: An Investment ApproachMean reversion in stock prices (1988)Post-Earnings-Announcement Drift: Delayed Price Response or Risk Premium? (1989)Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch, and a referee have been helpful. Kenneth French and Jay Ritter get special thanks.1 (1998)Investor Psychology and Asset Pricing (2001)Corporate financing and investment decisions when firms have information that investors do not have (1984)Investor Psychology and Security Market Under‐ and Overreactions (1998)Market Reactions to Tangible and Intangible Information (2006)Profitability, investment and average returns (2006)Replicating Anomalies (2018)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The theory and practice of econometrics (1986)Handbook of Management Accounting Research (2009)Cost Behavior and Analysts’ Earnings Forecasts (2010)Employment protection legislation, adjustment costs and cross-country differences in cost behavior (2012)Common risk factors in the returns on stocks and bonds (1993)A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets (1997)What Drives Firm‐Level Stock Returns? (2002)Does the Stock Market Overreact? (1985)The Categorical Imperative: Securities Analysts and the Illegitimacy Discount (1999)… and the Cross-Section of Expected Returns (2015)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Efficient Capital Markets: II (1991)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Illiquidity and stock returns: cross-section and time-series effects (2002)Financing Constraints and Corporate Investment (1987)Financing Constraints and Corporate Investment (1988)Value-relevance of nonfinancial information: The wireless communications industry (1996)Capital markets research in accounting (2001)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)On Persistence in Mutual Fund Performance (1997)Herding among security analysts (2000)
this work references cited by second hop

References

  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1990Evidence of Predictable Behavior of Security Returns2,702 cited
  • 1990Evidence that stock prices do not fully reflect the implications of current earnings for future earnings2,010 cited
  • 1996Do Brokerage Analysts' Recommendations Have Investment Value?1,916 cited
  • 2003Are Selling, General, and Administrative Costs “Sticky”?1,361 cited
  • 2000Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers1,204 cited
  • 2001Can Investors Profit from the Prophets? Security Analyst Recommendations and Stock Returns1,100 cited
  • 1993Fundamental Information Analysis1,084 cited
  • 1996Commonality in the determinants of expected stock returns1,066 cited
  • 1989Financial statement analysis and the prediction of stock returns996 cited
  • 2004Analyzing the Analysts: When Do Recommendations Add Value?982 cited
  • 1997Self-Selection and Analyst Coverage968 cited
  • 2004Information content of equity analyst reports926 cited
  • 1997Fundamental Analysis, Future Earnings, and Stock Prices862 cited

Only edges whose both ends are imported exist here. Widen the year window, or show the whole map. Back to the work

  • 1998Abnormal returns to a fundamental analysis strategy.512 cited
  • Cited by

    • 2018A framework for identifying accounting characteristics for asset pricing models, with an evaluation of book‐to‐price43 cited
    • 2014Financial Ratios and Firm's Value in the Bahrain Bourse40 cited
    • 2013…and the Cross-Section of Expected Returns36 cited
    • 2017Fundamental analysis of banks: the use of financial statement information to screen winners from losers35 cited
    • 2019Analysts, Taxes, and the Information Environment32 cited
    • 2017Improving Hedging Decisions for Financial Risks of Construction Material Suppliers Using Grey System Theory21 cited