Matches in SemOpenAlex for { <https://semopenalex.org/work/W2423543494> ?p ?o ?g. }
Showing items 1 to 79 of
79
with 100 items per page.
- W2423543494 abstract "We investigate whether 52-week high stock prices serves as reference points for analyst recommendation revisions. We find that analysts are more likely to downgrade stocks when the prices approach the 52-week high levels. This anchoring effect is stronger for stock with higher information asymmetry but moderated by analysts’ reputation, work experience, and educational background. We also find that a strategy that takes long positions in stocks approaching 52-week high generates positive returns, and a strategy that shorts stocks with recommendation downgrades is less profitable for the downgrades near 52-week high than for other downgrades. Moreover, the downgraded firms with prices near 52-week high subsequently experience less negative earnings forecast revisions, compared with other downgraded firms. Collectively, our results indicate that downgrades near 52-week high are partially attributable to anchoring heuristic and less informative. Overall, our paper provides new evidence on the determinants of analyst recommendation revisions from a behavioral perspective." @default.
- W2423543494 created "2016-06-24" @default.
- W2423543494 creator A5016887448 @default.
- W2423543494 creator A5079835322 @default.
- W2423543494 creator A5091637974 @default.
- W2423543494 date "2015-01-01" @default.
- W2423543494 modified "2023-10-02" @default.
- W2423543494 title "Does Anchoring Heuristic Affect Analyst Recommendation Revisions?" @default.
- W2423543494 cites W1500317331 @default.
- W2423543494 cites W1986559309 @default.
- W2423543494 cites W2049350168 @default.
- W2423543494 cites W2091967460 @default.
- W2423543494 cites W2134924760 @default.
- W2423543494 cites W2136120210 @default.
- W2423543494 cites W2143243444 @default.
- W2423543494 cites W2164320228 @default.
- W2423543494 cites W2901948162 @default.
- W2423543494 cites W3121459242 @default.
- W2423543494 cites W3121914694 @default.
- W2423543494 cites W3122136669 @default.
- W2423543494 cites W3122391462 @default.
- W2423543494 cites W3122553568 @default.
- W2423543494 cites W3122843332 @default.
- W2423543494 cites W3123089438 @default.
- W2423543494 cites W3123363184 @default.
- W2423543494 cites W3123432083 @default.
- W2423543494 cites W3123568454 @default.
- W2423543494 cites W3123594171 @default.
- W2423543494 cites W3123659541 @default.
- W2423543494 cites W3123717347 @default.
- W2423543494 cites W3124131307 @default.
- W2423543494 cites W3124278937 @default.
- W2423543494 cites W3124423437 @default.
- W2423543494 cites W3124688677 @default.
- W2423543494 cites W3125902221 @default.
- W2423543494 cites W4229911693 @default.
- W2423543494 doi "https://doi.org/10.2139/ssrn.2517238" @default.
- W2423543494 hasPublicationYear "2015" @default.
- W2423543494 type Work @default.
- W2423543494 sameAs 2423543494 @default.
- W2423543494 citedByCount "1" @default.
- W2423543494 countsByYear W24235434942018 @default.
- W2423543494 crossrefType "journal-article" @default.
- W2423543494 hasAuthorship W2423543494A5016887448 @default.
- W2423543494 hasAuthorship W2423543494A5079835322 @default.
- W2423543494 hasAuthorship W2423543494A5091637974 @default.
- W2423543494 hasConcept C154945302 @default.
- W2423543494 hasConcept C15744967 @default.
- W2423543494 hasConcept C173801870 @default.
- W2423543494 hasConcept C18483071 @default.
- W2423543494 hasConcept C2776035688 @default.
- W2423543494 hasConcept C41008148 @default.
- W2423543494 hasConcept C46312422 @default.
- W2423543494 hasConcept C77805123 @default.
- W2423543494 hasConceptScore W2423543494C154945302 @default.
- W2423543494 hasConceptScore W2423543494C15744967 @default.
- W2423543494 hasConceptScore W2423543494C173801870 @default.
- W2423543494 hasConceptScore W2423543494C18483071 @default.
- W2423543494 hasConceptScore W2423543494C2776035688 @default.
- W2423543494 hasConceptScore W2423543494C41008148 @default.
- W2423543494 hasConceptScore W2423543494C46312422 @default.
- W2423543494 hasConceptScore W2423543494C77805123 @default.
- W2423543494 hasLocation W24235434941 @default.
- W2423543494 hasOpenAccess W2423543494 @default.
- W2423543494 hasPrimaryLocation W24235434941 @default.
- W2423543494 hasRelatedWork W2049133647 @default.
- W2423543494 hasRelatedWork W2117707250 @default.
- W2423543494 hasRelatedWork W2132333037 @default.
- W2423543494 hasRelatedWork W2136123925 @default.
- W2423543494 hasRelatedWork W2141960318 @default.
- W2423543494 hasRelatedWork W2323000064 @default.
- W2423543494 hasRelatedWork W2748952813 @default.
- W2423543494 hasRelatedWork W2899084033 @default.
- W2423543494 hasRelatedWork W3121134772 @default.
- W2423543494 hasRelatedWork W3197427508 @default.
- W2423543494 isParatext "false" @default.
- W2423543494 isRetracted "false" @default.
- W2423543494 magId "2423543494" @default.
- W2423543494 workType "article" @default.