When Security Analysts Talk, Who Listens?
By Michael B. Mikhail, Beverly R. Walther, R. H. Willis. 2007
260 citations recorded by the source corpus.
Subfields: Accounting, Finance
View Paper: https://www.semanticscholar.org/paper/143d74eb3b3ebf3920a94d9cd89946c60b6b487d
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Citations in the corpus
- Analyst Recommendations, Mutual Fund Herding, and Overreaction in Stock Prices (2014, unknown): “Since prior studies find mixed evidence on stock returns following institutional trading in response to analyst information releases (see, e.g., Mikhail et al. 2007, Busse et al. 2012), we further examine this issue in the context of mutual fund herding.6 First, we find that mutual fund herding…”
- Do Individual Investors Cause Post-Earnings Announcement Drift? Direct Evidence from Personal Trades (2008, unknown): “…traders than are individual investors (Hand 1990; Lee et al. 1991; Walther 1997; Grinblatt and Keloharju 2000; Balsam et al. 2002; Bonner et al. 2003; Asthana et al. 2004; De Franco et al. 2006; Mikhail et al. 2007), and some suggest that PEAD may result from the trading activity of individuals.”
- Corporate Fraud and Business Conditions: Evidence from IPOs (2010, background): “Malmendier and Shanthikumar (2007) and Mikhail, Walther, and Willis (2007) find that, whereas individual investors focus on analyst buy/sell recommendations in a naïve way, institutional investors focus more on earnings forecasts.”
- Political contributions and analyst behavior (2015, unknown): “In contrast, less sophisticated market participants, such as retail investors (Bonner et al. 2003; Malmendier and Shanthikumar 2007; Mikhail et al. 2007; Hirshleifer et al. 2008), may fail to discriminate effectively.”
- Are Small Investors Naive About Incentives (2007, unknown): “Mikhail et al. (2006) also analyze the reaction of small and large investors to recommendations, but use dollar trading volume.”
- Investor Trading and the Post Earnings Announcement Drift (2011, unknown): “Mikhail et al. (2007) find that, while large traders trade in the direction of analyst stock recommendations and earnings forecast revisions, small traders do not.”