Short-Sellers and Analysts as Providers of Complementary Information about Future Firm Performance
نویسندگان
چکیده
منابع مشابه
What do Analysts’ Forecasts Reveal about Analysts’ ‘Other’ Information? †
Analysts often provide forecasts of one-year ahead earnings, earnings two-year ahead, as well as long-term earnings growth rates. In our attempts to understand the properties of these contemporaneous multi-period earnings forecasts, we begin by examining whether analysts’ earnings forecasts can be described using the linear information dynamics (LID). We find that LID is an appropriate descript...
متن کاملWhat do Analysts ’ Forecasts Reveal about Analysts ’ Private Information ?
Analysts often provide forecasts of one-year ahead earnings, earnings two-year ahead, as well as long-term earnings growth rates. In our attempts to understand the properties of these contemporaneous multi-period earnings forecasts, we begin by examining whether analysts’ earnings forecasts can be described using the linear information dynamics (LID). We find that LID is an appropriate descript...
متن کاملShort sellers and corporate disclosures
We examine how short sellers affect corporate disclosures using a natural experiment. From May 2005 to July 2007, the SEC implemented a pilot program by randomly selecting one third of Russell 3000 stocks and removing the short sale price tests for these stocks (referred to as pilot firms), leading to lower short-selling constraint, without changing the requirement for other firms (referred to ...
متن کاملThe Effect of Information Asymmetry on the Relationship between Firm Geographical Location and Future Stock Price Crash Risk
The aim of research is to investigate the effect of information asymmetry on the relationship between geographical location of firm and risk of stock price crash in the Iranian listed companies in Tehran stock exchange. For this Purpose, data of 110 listed companies was gathered and analyzed periodically in 2016. Distance Cosine index was used for geographical location, as the independent varia...
متن کاملStatus and Surprises: Causes of Overreaction to New Information about Firm Performance
A wide range of evidence confirms that in markets characterized by high informational uncertainty a firm’s status position is a signal of that firm’s quality, and that resource holders are more likely to select and invest in high status firms. The central question of this paper is if status as a signal of the quality of the firm remains relevant when more informative data about the firm’s perfo...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2008
ISSN: 1556-5068
DOI: 10.2139/ssrn.1315492