Do Analysts Herd? An Analysis of Recommendations and Market Reactions

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Where Have All the IPOs Gone (2013, neutral): “Other articles attempt to explain the variations in monthly, quarterly, or yearly volume, such as Lerner (1994), Lowry and Schwert (2002), Lowry (2003), Helwege and Liang (2004), Benninga, Helmantel, and Sarig (2005), Pástor and Veronesi (2005), Yung, Çolak, and Wang (2008), and Rau and Stouraitis (”
It Depends on Where You Search: Institutional Investor Attention and Underreaction to News (2017, methodology): “To arrive at the sample used to analyze analyst recommendation change, we start with the Full Sample and follow the filters in Jegadeesh and Kim (2010), Loh and Stulz (2011), and Kadan, Michaely, and Moulton (2013).”
Firm specific and macro herding by professional and amateur investors and their effects on market volatility (2011, background): “For example: Graham (1999) and Jegadeesh and Kim (2007) study analysts, Gleason et al. (2004) examine herding among the sector ETFs, and Kodres and Pritsker (1995) investigate herding among futures traders.”
Access to Management and the Informativeness of Analyst Research (2014, background): “, bold changes) lead to larger price impacts (Gleason and Lee, 2003; Jegadeesh and Kim, 2010).”