Prospect theory, analyst forecasts, and stock returns

This paper documents how prospect theory can be used to explain stock returns and analysts’ forecast behavior. Positive earnings surprises are associated with increases in abnormal returns but negative earnings surprises have only a limited negative impact on returns. We find that analysts display a...

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Bibliographic Details
Main Author: DING, David K.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2003
Subjects:
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/738
https://ink.library.smu.edu.sg/lkcsb_research/1158/
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Institution: Singapore Management University
Language: English
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