search query: @indexterm Share prices / total: 1009
reference: 43 / 1009
| Author: | Ciccone, S. |
| Title: | Does analyst optimism about future earnings distort stock prices? |
| Journal: | Journal of behavioral finance
2003 : VOL. 4:2, p. 59-64 |
| Index terms: | Earnings Expectations Financial forecasting Share prices |
| Language: | eng |
| Abstract: | Monthly returns to companies with optimistic expectations are 1,5% lower versus companies with pessimistic expectations, while annual buy-and-hold returns to companies with optimistic expectations are 20% lower. The optimistic component of stock prices lingers months after the optimism is revealed to the market. It also exists separately from the component related to analyst forecast dispersion. |
SCIMA