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Evidence from Archival Data on the Relation Between Security Analysts' Forecast Errors and Prior Forecast Revisions*
16 references·16 citing·37 second hopsampled
Evidence from Archival Data on the Relation Between Security Analysts' Forecast Errors and Prior Forecast Revisions* (1995)Evidence from Archival Data on the Relati…The Effect of Investment Banking Relationships on Financial Analysts' Earnings Forecasts and Investment Recommendations* (1995)The Effect of Investment Bank…Tests of Analysts' Overreaction/Underreaction to Earnings Information as an Explanation for Anomalous Stock Price Behavior (1992)Tests of Analysts' Overreacti…Order effects in belief updating: The belief-adjustment model (1992)Order effects in belief updat…Evidence on the Possible Underweighting of Earnings-Related Information (1991)Evidence on the Possible Unde…Do analysts' earnings forecasts incorporate information in prior stock price changes? (1991)Do analysts' earnings forecas…The association between revisions of financial analysts' earnings forecasts and security-price changes (1990)The association between revis…Do Security Analysts Overreact (1990)Do Security Analysts OverreactAnalysts' forecasts as earnings expectations (1988)Analysts' forecasts as earnin…Ambiguity and uncertainty in probabilistic inference. (1985)Ambiguity and uncertainty in …Judgment under uncertainty: Causality and attribution (1982)Judgment under uncertainty: C…Judgment under Uncertainty (1982)Judgment under UncertaintyConservatism in human information processing (1982)Conservatism in human informa…The Time Series of Annual Accounting Earnings (1977)The Time Series of Annual Acc…Judgment under Uncertainty: Heuristics and Biases (1974)Judgment under Uncertainty: H…Availability: A heuristic for judging frequency and probability (1973)Availability: A heuristic for…Subjective probability: A judgment of representativeness (1972)Subjective probability: A jud…The Interpretation of Unanticipated News Arrival and Analysts’ Skill (2017)The Interpretation of Unantic…Who Herds? Who Doesn't? Estimates of Analysts’ Herding Propensity in Forecasting Earnings (2016)Who Herds? Who Doesn't? Estim…The power of priors: How confirmation bias impacts market prices (2015)The power of priors: How conf…Investors' Differential Reaction to Positive versus Negative Earnings Surprises* (2008)Investors' Differential React…Wycena papierów wartościowych na rynku kapitałowym w świetle finansów behawioralnych (2007)Wycena papierów wartościowych…Levels of voluntary disclosure in IPO prospectuses: an empirical analysis (2007)Levels of voluntary disclosur…Do analysts overreact to extreme good news in earnings? (2007)Do analysts overreact to extr…Horizon‐Dependent Underreaction in Financial Analysts' Earnings Forecasts* (2006)Horizon‐Dependent Underreacti…Information Uncertainty and Analyst Forecast Behavior (2005)Information Uncertainty and A…A Review of Research Related to Financial Analysts' Forecasts and Stock Recommendations (2005)A Review of Research Related …Inefficiency in Earnings Forecasts: Experimental Evidence of Reactions to Positive vs. Negative Information (2003)Inefficiency in Earnings Fore…Are Fundamentals Priced in the Bond Market?* (2003)Are Fundamentals Priced in th…Analysts' Rationality and Forecast Bias: Evidence from Sales Forecasts (2003)Analysts' Rationality and For…Economic Value Added, Future Accounting Earnings, and Financial Analysts' Earnings Per Share Forecasts (2002)Economic Value Added, Future …The Inefficiency of the Mean Analyst Forecast as a Summary Forecast of Earnings (2001)The Inefficiency of the Mean …Investor and (Value Line) Analyst Underreaction to Information about Future Earnings: The Corrective Role of Non‐Earnings‐Surprise Information (2001)Investor and (Value Line) Ana…Belief, Attitude, Intention and Behavior: An Introduction to Theory and Research (1975)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)Behavioral Decision Research: A Constructive Processing Perspective (1992)Support theory: A nonextensional representation of subjective probability. (1994)Learning to Be Overconfident (2001)An Empirical Evaluation of Accounting Income Numbers (1968)The Combination of Forecasts (1969)Norm theory: Comparing reality to its alternatives. (1986)Herd Behavior and Investment (1988)Forecasting Economic Time Series (2000)Capital markets research in accounting (2001)Belief in the law of small numbers. (1971)Comparison of Bayesian and regression approaches to the study of information processing in judgment (1971)On the psychology of prediction. (1973)Telling more than we can know: Verbal reports on mental processes. (1977)Statistical principles in experimental design. (1962)Judgment under Uncertainty: Heuristics and Biases (1975)The use of statistical heuristics in everyday inductive reasoning. (1983)Errors and mistakes: Evaluating the accuracy of social judgment. (1987)Does the Stock Market Overreact? (1985)Further Evidence On Investor Overreaction and Stock Market Seasonality (1987)Evidence of Predictable Behavior of Security Returns (1990)The Geography of Equity Analysis (2005)Profitability, investment and average returns (2006)The Disposition Effect and Underreaction to News (2006)A model of investor sentiment /The Intuitive Psychologist And His Shortcomings: Distortions in the Attribution Process (1977)A model of investor sentiment1We are grateful to the NSF for financial support, and to Oliver Blanchard, Alon Brav, John Campbell (a referee), John Cochrane, Edward Glaeser, J.B. Heaton, Danny Kahneman, David Laibson, Owen Lamont, Drazen Prelec, Jay Ritter (a referee), Ken Singleton, Dick Thaler, an anonymous referee, and the editor, Bill Schwert, for comments.1 (1998)The Framing of Decisions and the Psychology of Choice (1981)Development of NASA-TLX (Task Load Index): Results of Empirical and Theoretical Research (1988)Epistemic Injustice (2007)Those Who Understand: Knowledge Growth in Teaching (1986)Perception of Risk (1987)The weirdest people in the world? (2010)Introduction: epistemic communities and international policy coordination (1992)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)
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References

  • 1974Judgment under Uncertainty: Heuristics and Biases28,742 cited
  • 1973Availability: A heuristic for judging frequency and probability9,980 cited
  • 1982Judgment under Uncertainty8,238 cited
  • 1972Subjective probability: A judgment of representativeness4,876 cited
  • 1982Judgment under uncertainty: Causality and attribution4,616 cited
  • 1992Order effects in belief updating: The belief-adjustment model1,591 cited
  • 1982Conservatism in human information processing1,004 cited
  • 1992Tests of Analysts' Overreaction/Underreaction to Earnings Information as an Explanation for Anomalous Stock Price Behavior1,003 cited
  • 1988Analysts' forecasts as earnings expectations985 cited
  • 1985Ambiguity and uncertainty in probabilistic inference.817 cited
  • 1990Do Security Analysts Overreact685 cited
  • 1995The Effect of Investment Banking Relationships on Financial Analysts' Earnings Forecasts and Investment Recommendations*664 cited
  • 1990The association between revisions of financial analysts' earnings forecasts and security-price changes552 cited
  • 1991Do analysts' earnings forecasts incorporate information in prior stock price changes?471 cited
  • 1991Evidence on the Possible Underweighting of Earnings-Related Information

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342 cited
  • 1977The Time Series of Annual Accounting Earnings336 cited
  • Cited by

    • 2003Are Fundamentals Priced in the Bond Market?*80 cited
    • 2001Investor and (Value Line) Analyst Underreaction to Information about Future Earnings: The Corrective Role of Non‐Earnings‐Surprise Information73 cited
    • 2006Horizon‐Dependent Underreaction in Financial Analysts' Earnings Forecasts*68 cited
    • 2002Economic Value Added, Future Accounting Earnings, and Financial Analysts' Earnings Per Share Forecasts55 cited
    • 2001The Inefficiency of the Mean Analyst Forecast as a Summary Forecast of Earnings54 cited
    • 2007Levels of voluntary disclosure in IPO prospectuses: an empirical analysis53 cited
    • 2003Analysts' Rationality and Forecast Bias: Evidence from Sales Forecasts47 cited
    • 2005Information Uncertainty and Analyst Forecast Behavior45 cited
    • 2005A Review of Research Related to Financial Analysts' Forecasts and Stock Recommendations43 cited
    • 2007Wycena papierów wartościowych na rynku kapitałowym w świetle finansów behawioralnych42 cited
    • 2015The power of priors: How confirmation bias impacts market prices41 cited
    • 2017The Interpretation of Unanticipated News Arrival and Analysts’ Skill37 cited
    • 2016Who Herds? Who Doesn't? Estimates of Analysts’ Herding Propensity in Forecasting Earnings35 cited
    • 2008Investors' Differential Reaction to Positive versus Negative Earnings Surprises*33 cited
    • 2007Do analysts overreact to extreme good news in earnings?31 cited
    • 2003Inefficiency in Earnings Forecasts: Experimental Evidence of Reactions to Positive vs. Negative Information31 cited