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Analyst Coverage, Information, and Bubbles
16 references·8 citing·42 second hop
Analyst Coverage, Information, and Bubbles (2011)Analyst Coverage, Information, and BubblesDisagreement and the Stock Market (2007)Disagreement and the Stock Ma…Information Uncertainty and Stock Returns (2006)Information Uncertainty and S…Stock price synchronicity and analyst coverage in emerging markets (2005)Stock price synchronicity and…Market Frictions, Price Delay, and the Cross-Section of Expected Returns (2005)Market Frictions, Price Delay…Asset pricing with liquidity risk (2005)Asset pricing with liquidity …Overconfidence and Speculative Bubbles (2003)Overconfidence and Speculativ…Differences of Opinion, Short-Sales Constraints, and Market Crashes (2003)Differences of Opinion, Short…Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts (2003)Analyzing the Analysts: Caree…Breadth of ownership and stock returns (2002)Breadth of ownership and stoc…Investor Psychology and Asset Pricing (2001)Investor Psychology and Asset…Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies (2000)Bad News Travels Slowly: Size…Conflict of Interest and the Credibility of Underwriter Analyst Recommendations (1999)Conflict of Interest and the …Manias, Panics, and Crashes: A History of Financial Crises (1979)Manias, Panics, and Crashes: …Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations (1978)Speculative Investor Behavior…RISK, UNCERTAINTY, AND DIVERGENCE OF OPINION (1977)RISK, UNCERTAINTY, AND DIVERG…The arbitrage theory of capital asset pricing (1976)The arbitrage theory of capit…The information environment and ecological environment perspectives: Capital market openness and firm ESG rating divergence (2024)The information environment a…Retail and Institutional Investor Trading Behaviors: Evidence from China (2024)Retail and Institutional Inve…Cross-border equity flows and information transmission: Evidence from Chinese stock markets (2023)Cross-border equity flows and…Stock return predictability: Evidence from moving averages of trading volume (2021)Stock return predictability: …Boom and Bust (2020)Boom and BustRisks in China’s Financial System (2018)Risks in China’s Financial Sy…Leverage-Induced Fire Sales and Stock Market Crashes (2018)Leverage-Induced Fire Sales a…Demand Shock, Speculative Beta, and Asset Prices: Evidence from the Shanghai-Hong Kong Stock Connect Program (2018)Demand Shock, Speculative Bet…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)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)Financial Intermediation and Delegated Monitoring (1984)Essays in the Theory of Risk-Bearing. (1972)Differences of Opinion Make a Horse Race (1993)Chapter 18 A survey of behavioral finance (2003)The Long‐Run Performance of initial Public Offerings (1991)Timid Choices and Bold Forecasts: A Cognitive Perspective on Risk Taking (1993)Earnings Management and the Long‐Run Market Performance of Initial Public Offerings (1998)Herd Behavior in Financial Markets (2000)Stock price reaction to news and no-news: drift and reversal after headlines (2003)Analyzing the Analysts: When Do Recommendations Add Value? (2004)Risk, Return, and Equilibrium: Empirical Tests (1973)The Pricing of Options and Corporate Liabilities (1973)Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors (2000)The Cross‐Section of Volatility and Expected Returns (2006)All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2007)The Cross-Section of Expected Stock Returns (1992)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets (1999)Common risk factors in the returns on stocks and bonds (1993)Illiquidity and stock returns: cross-section and time-series effects (2002)Liquidity and leverage (2008)Market Liquidity and Funding Liquidity (2008)Diversification's effect on firm value (1995)Earnings Management to Exceed Thresholds (1999)Presidential Address: Discount Rates (2011)The short of it: Investor sentiment and anomalies (2011)Integración de los mercados financieros Latinoamericanos por medio de MILA (2020)On Persistence in Mutual Fund Performance (1997)Retail Investor Sentiment and Return Comovements (2006)High idiosyncratic volatility and low returns: International and further U.S. evidence (2008)Individualism and Momentum around the World (2010)Judgment under Uncertainty: Heuristics and Biases (1974)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)Driven to Distraction: Extraneous Events and Underreaction to Earnings News (2009)Who Gambles in the Stock Market? (2009)The East Asian Financial Crisis: Diagnosis, Remedies, Prospects (1998)The Adaptive Markets Hypothesis (2004)From Financial Crash to Debt Crisis (2011)
this work references cited by second hop

References

  • 1976The arbitrage theory of capital asset pricing7,081 cited
  • 1977RISK, UNCERTAINTY, AND DIVERGENCE OF OPINION3,714 cited
  • 1979Manias, Panics, and Crashes: A History of Financial Crises2,838 cited
  • 2005Asset pricing with liquidity risk2,816 cited
  • 2000Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies2,639 cited
  • 2001Investor Psychology and Asset Pricing2,429 cited
  • 2003Overconfidence and Speculative Bubbles2,227 cited
  • 2006Information Uncertainty and Stock Returns1,810 cited
  • 1978Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations1,559 cited
  • 1999Conflict of Interest and the Credibility of Underwriter Analyst Recommendations1,549 cited
  • 2003Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts1,471 cited
  • 2003Differences of Opinion, Short-Sales Constraints, and Market Crashes1,356 cited
  • 2002Breadth of ownership and stock returns1,175 cited
  • 2005Market Frictions, Price Delay, and the Cross-Section of Expected Returns1,088 cited
  • 2007Disagreement and the Stock Market950 cited

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Stock price synchronicity and analyst coverage in emerging markets
831 cited

Cited by

  • 2020Boom and Bust95 cited
  • 2024Retail and Institutional Investor Trading Behaviors: Evidence from China73 cited
  • 2018Demand Shock, Speculative Beta, and Asset Prices: Evidence from the Shanghai-Hong Kong Stock Connect Program60 cited
  • 2018Leverage-Induced Fire Sales and Stock Market Crashes60 cited
  • 2024The information environment and ecological environment perspectives: Capital market openness and firm ESG rating divergence46 cited
  • 2023Cross-border equity flows and information transmission: Evidence from Chinese stock markets43 cited
  • 2021Stock return predictability: Evidence from moving averages of trading volume39 cited
  • 2018Risks in China’s Financial System39 cited