haku: @author Forbes, W. P. / yhteensä: 2
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| Tekijä: | Forbes, W. P. Skerratt, L. C. L. |
| Otsikko: | Analysts' forecast revisions and stock price movements. |
| Lehti: | Journal of Business Finance and Accounting
1992 : JUN, VOL. 19:4, p. 555-569 |
| Asiasana: | FORECASTING SHARE PRICES MODELS FINANCIAL MODELS |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates the relation between analysts' forecast revision activity and stock price movements using a unique database, which avoids some problems of other sources, e.g. the IBES tapes. Authors model the relation between forecast revision and security price movements using Grange causality and find a contemporaneous relation to exist. In the final section authors gives some pre preliminary evidence concerning the 'broker effect' on the relation between analysts' revisions and security price movements. They find revisions issued by broker firms are discounted by the market. |
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