The Relation between Analysts' Forecasts of Long-Term Earnings Growth and Stock Price Performance Following Equity Offerings

By Patricia M. Dechow, Amy P. Hutton, Richard G. Sloan. 2000

562 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/cd96fcf78dc0abf435f24089783f0f8ff30b98fc

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Citations in the corpus

Do Analyst Conflicts Matter? Evidence from Stock Recommendations (2008, unknown): “, Dugar and Nathan (1995), Lin and McNichols (1998), Michaely and Womack (1999), Dechow, Hutton, and Sloan (2000), and Bradley, Jordan, and Ritter (2007)) have focused on conflicts faced by analysts in the context of existing underwriting relationships.”
On the relation between predictable market returns and predictable analyst forecast errors (2008, background): “Dechow et al. (2000) found that analysts tend to be overly optimistic in their longterm growth forecasts and that these forecast levels are negatively associated with future returns.”
Is the Market Surprised by Poor Earnings Realizations following Seasoned Equity Offerings? (2001, unknown): “An alternative interpretation of low post-SEO stock returns, however, is that SEO firms appear to perform poorly only because their returns are measured against an inappropriate benchmark [see, for example, Fama (1998)], or because test statistics are biased. Studies by Kothari and Warner (1997) and”
Are Small Investors Naive About Incentives (2007, unknown): “See, for example, Rajan and Servaes (1997), Dechow, Hutton, and Sloan (1999), Chan, Karceski, and Lakonishok (2002), Brav, Lehavy, and Michaely (2003), and Brav and Lehavy (2003).”
Biased Forecasts or Biased Earnings? The Role of Reported Earnings in Explaining Apparent Bias and Over/Underreaction in Analysts' Earnings Forecasts (2003, methodology): “, 2000; Dechow et al., 2003; Abarbanell and Lehavy, 2003a, b). However, prior studies have not considered the impact of observations that comprise the middle asymmetry on inferences concerning the general tendency of analysts to produce biased and/or inefficient forecasts. (6)An analysis of unscaled”
Buys, Holds, and Sells: The Distribution of Investment Banks' Stock Ratings and the Implications for the Profitability of Analysts' Recommendations (2006, background): “The construction of the size and book-to-market portfolios is identical to that in Fama and French (1993). The WML return is constructed as in Carhart (1997).”
The Informational Role of Bond Analysts (2009, unknown): “See, e.g., Dugar and Nathan (1995), Lin and McNichols (1998), Michaely and Womack (1999), Dechow, Hutton, and Sloan (2000), and O'Brien, McNichols, and Lin (2005).”
Analyst Coverage and Earnings Management (2008, unknown): “They are less likely to issue negative opinions when major clients have significant holdings in certain companies (Dechow et al. (2000), Lin and McNichols (1998), Michaely and Womack(1999)).”
Investor Psychology in Capital Markets: Evidence and Policy Implications (2001, unknown): “The evidence for forecasts, however, is mixed; some studies finds an affiliation effect (Rajan and Servaes (1997), DeChow, Hutton, and Sloan (2000)), whereas others do not (Dugar and Nathan (1995), Lin and McNichols (1998), Teoh and Wong (2001)). rors for new issue firms and more generally in firms…”