The DOI matches its Crossref record.
Reputation and Performance Among Security Analysts
Abstract
Members of the Institutional Investor All‐American Research Team supply more accurate earnings forecasts than other analysts when forecasts are matched by the corporation followed and by the date of brokerage house issuance. This contemporaneous advantage is complemented by a timing advantage; All‐Americans supply forecasts more often than other analysts. Stocks returns immediately following large upward forecast revisions suggest that All‐Americans impact prices more than other analysts. However, there is virtually no difference in returns following large downward revisions. Nevertheless, the collective results suggest a positive relation between reputation and performance, and, assuming that All‐Americans are better paid, pay and performance.
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Citations
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Support theory: a nonextensional representation of subjective probability
Tversky, A., & Koehler, D. J. (1994) · Psychological Review · doi:10.1037/0033-295x.101.4.547 · Cited by 1,167
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Barron, O. E., Byard, D., & Kim, O. (2002) · The Accounting Review · doi:10.2308/accr.2002.77.4.821 · Cited by 248
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Mental Contamination and the Debiasing Problem
Wilson, T. D., Centerbar, D. B., & Brekke, N. (2002) · Heuristics and Biases · doi:10.1017/cbo9780511808098.012 · Cited by 160
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Metadata
- Authors
- STICKEL, S. E.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1992-12
- Volume
- 47
- Issue
- 5
- Pages
- 1811-1836
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2167645707
- Cited by
- 979
- References
- 0
- FWCI
- 8.82
- Type
- journal article
- Language
- en
- Open access
- closed
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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.
