Investor and Analyst Reactions to Earnings Announcements of Related Firms: An Empirical Analysis

By Sundaresh Ramnath. 2002

312 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/1c9d26959211b8386610d554438810129f2605b7

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

Citations in the corpus

Search Based Peer Firms: Aggregating Investor Perceptions through Internet Co-Searches (2015, methodology): “Then, in our first step, we restrict searches to base firms in the S&P 1500 universe, leaving (10)Building upon the same SEC disclosure requirement, and also with a view to capture firms in similar product spaces, Rauh and Sufi (2012) and Lewellen (2013) both identify peers through firms’ self-repor”
The Role of Anchoring Bias in the Equity Market: Evidence from Analysts’ Earnings Forecasts and Stock Returns (2012, unknown): “Following Ramnath (2002), for each month, the FE is computed as the difference between the actual EPS announced at the end of the fiscal year and the current monthly consensus EPS forecast, scaled by the stock price when the consensus EPS is released.5 The consensus EPS forecast is the mean of…”
Analyst Initiations of Coverage and Stock Return Synchronicity (2012, unknown): “For example, Ramnath (2002) shows that analysts revise their earnings forecasts when firms in the same industry make earnings announcements, and Hameed et al. (2010) document that analyst forecast revisions move prices of other firms in the industry.”
Analyst following along the supply chain (2011, unknown): “We examine one potential benefit here: improvement in 6 See Foster (1981), Han and Wild (1990), Ramnath (2002), and Thomas and Zhang (2008) on intra-industry information spillovers.”
Price Informativeness and Investment Sensitivity to Stock Price (2007, unknown): “For example, Ramnath (2002) shows that analysts revise their earning forecasts in response to the earning announcements of other firms in the same industry.”
The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices (2004, result): “Consistent with recent research by Ramnath (2002), our results suggest that analysts facilitate the transfer of price relevant information across peer firms.”
The Financial Analyst Forecasting Literature: A Taxonomy with Suggestions for Further Research (2008, unknown): “Ramnath (2002) Archival, I/B/E/S, 1986-1995.”
Board Interlocks and Earnings Management Contagion (2013, background): “Sah (1991) points out that exposure to the dishonesty of others could lead managers to change their subjective estimate of manipulation costs and benefits.”
The Contagion Effects of Accounting Restatements (2008, unknown): “An alternative approach for identifying peer firms is based on common coverage among sell-side analysts (Ramnath 2002).”
Accounting restatements and information risk (2010, unknown): “includes studies of earnings announcements (Foster 1981; Clinch and Sinclair 1987; Han and Wild 1990; Freeman and Tse 1992; Ramnath 2002 ), management forecasts of earnings (Baginski 1987; Pyro and Lustgarten 1990), bankruptcy (Lang and Stulz 1992), public securities offerings (Szewczyck 1992) and ”
Economic Links and Predictable Returns (2008, background): “Turning to return predictability, Ramnath (2002) examines how earnings surprises of firms within in the same industry are correlated.”
Accounting Standards Harmonization and Financial Statement Comparability: Evidence from Transnational Information Transfer (2014, background): “6Examples include information transfer associated with earnings announcements (Firth, 1976; Foster, 1981; Clinch and Sinclair, 1987; Freeman and Tse, 1992; Han and Wild, 1990; Ramnath, 2002; Thomas and Zhang, 2008) and management forecasts of earnings (Baginski, 1987; Han, Wild and Ramesh, 1989; Pyo”
Does Mandatory IFRS Adoption Improve Information Comparability (2012, unknown): “For example, such information transfer has been documented with respect to the news in the earnings announcements (Firth 1976; Foster 1981; Clinch and Sinclair 1987; Han and Wild 1990;Hramnath 2002), stock split”
Stock Return Serial Dependence and Out-of-Sample Portfolio Performance (2014, background): “…(Hong and Stein (1999), Hong, Lim, and Stein (2000)); investor inattention that leads to a delay with which prices incorporate information (Ramnath (2002), Hirshleifer and Teoh (2003), Hou and Moskowitz (2005)), Peng and Xiong (2006), Hong, Torous, and Valkanov (2007), and Hou, Peng, and…”