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Cited by 2,139

The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.

Differences of Opinion and the Cross Section of Stock Returns

Open access
Diether, Karl B., Malloy, Christopher J., Scherbina, Anna·2002·The Journal of Finance
DOI 10.1111/0022-1082.00490
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Abstract

We provide evidence that stocks with higher dispersion in analysts' earnings forecasts earn lower future returns than otherwise similar stocks. This effect is most pronounced in small stocks and stocks that have performed poorly over the past year. Interpreting dispersion in analysts forecasts as a proxy for differences in opinion about a stock, we show that this evidence is consistent with the hypothesis that prices will reflect the optimistic view whenever investors with the lowest valuations do not trade. By contrast, our evidence is inconsistent with a view that dispersion in analysts' forecasts proxies for risk.

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Metadata

Authors
Diether, K. B., Malloy, C. J., & Scherbina, A.
Venue
The Journal of Finance
Publisher
Wiley
Published
2002-10
Volume
57
Issue
5
Pages
2113-2141
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/0022-1082.00490
OpenAlex
W2160275010
Cited by
2,139
References
4
FWCI
57.92
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Differences of Opinion and the Cross Section of Stock Returns. https://app.cochat.ai/papers/10.1111/0022-1082.00490
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Diether, K. B., Malloy, C. J., & Scherbina, A. (2002). Differences of Opinion and the Cross Section of Stock Returns. The Journal of Finance. https://doi.org/10.1111/0022-1082.00490

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.