Examining the Informational Role of Analysts’ Forecasts and its Impact on the Relation between Earnings Surprises and Investors’ Responses
Prior research documents the existence of two distinct post-earnings-announcement-drifts. Interestingly, investors seem to underreact more toward analyst-based earnings surprises than toward seasonal random walk earnings surprises. In this paper, we measure the extent of investors’ delayed reaction...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2013
|
| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soa_research/1111 https://ink.library.smu.edu.sg/context/soa_research/article/2110/viewcontent/1._Joonho_Lee_1_.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Singapore Management University |
| Language: | English |