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題名:Market Impact of Analyst Reports--A Comparison of Recommendations, Target Prices, and Earnings Forecasts
書刊名:財務金融學刊
作者:謝文良 引用關係李進生
作者(外文):Hsieh, G. Wen-liangLee, Chin-shen
出版日期:2020
卷期:28:1
頁次:頁27-75
主題關鍵詞:證券分析師投資建議目標價盈餘預測臺灣市場Security analystsStock recommendationsPrice targetsEarnings forecastsTaiwan
原始連結:連回原系統網址new window
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  • 共同引用共同引用:0
  • 點閱點閱:5
期刊論文
1.Huang, Joshua、Mian, Mujtaba、Sankaraguruswamy, Srinivasan(2009)。The Value of Combining the Information Content of Analyst Recommendations and Target Prices。Journal of Financial Market,12,754-777。  new window
2.Jegadeesh, Narasimhan、Kim, Woojin(2006)。Value of Analyst Recommendations: International Evidence。Journal of Financial Markets,9(3),274-309。  new window
3.Bradshaw, Mark T.(2002)。The Use of Target Prices to Justify Sell-side Analysts' Stock Recommendations。Accounting Horizons,16(1),27-41。  new window
4.Dugar, Amitabh、Nathan, Siva(1995)。The Effect of Investment Banking Relationships on Financial Analysts' Earnings Forecasts and Investment Recommendations。Contemporary Accounting Research,12(1),131-160。  new window
5.Barber, Brad M.、Lehavy, Reuven、McNichols, Maureen、Trueman, Brett(2001)。Can Investors Profit from the Prophets? Security Analyst Recommendations and Stock Returns。The Journal of Finance,56(2),531-563。  new window
6.Barber, Brad M.、Lehavy, Reuven、Trueman, Brett(2007)。Comparing the Stock Recommendation Performance of Investment Banks and Independent Research Firms。Journal of Financial Economics,85(2),490-517。  new window
7.Barber, Brad M.、Lee, Yi-Tsung、Liu, Yu-Jane、Odean, Terrance(2007)。Is the aggregate investor reluctant to realise losses? Evidence from Taiwan。European Financial Management,13(3),423-447。  new window
8.Loh, Roger K.、Stulz, René M.(2011)。When are analyst recommendation changes influential?。The Review of Financial Studies,24(2),593-627。  new window
9.Chen, Li-Wen、Johnson, Shane A.、Lin, Ji-Chai、Liu, Yu-Jane(2009)。Information, sophistication, and foreign versus domestic investors' performance。Journal of Banking and Finance,33,1636-1651。  new window
10.Michaely, Ron、Womack, Kent L.(1999)。Conflict of Interest and the Credibility of Underwriter Analyst Recommendations。The Review of Financial Studies,12(4),653-686。  new window
11.Mikhail, Michael B.、Walther, Beverly R.、Willis, Richard H.(1997)。Do security analysts improve their performance with experience?。Journal of Accounting Research,35,131-157。  new window
12.Beneish, Messod D.(1991)。Stock prices and the Dissemination of Analysts' Recommendation。Journal of Business,64(3),393-416。  new window
13.Bhattacharya, Nilabhra(2001)。Investors' trade size and trading responses around earnings announcements: An empirical investigation。Accounting Review,76(2),221-244。  new window
14.Lee, Charles M. C.(1992)。Earnings News and Small Traders, an Intraday Analysis。Journal of Accounting and Economics,15(2/3),265-302。  new window
15.Stickel, Scott E.(1995)。The Anatomy of the Performance of Buy and Sell Recommendations。Financial Analysts Journal,51(5),25-39。  new window
16.Chan, Kalok、Hameed, Allaudeen(2006)。Stock Price Synchronicity and Analyst Coverage in Emerging Markets。Journal of Financial Economics,80(1),115-147。  new window
17.Lim, Terence(2001)。Rationality and Analysts' Forecast Bias。Journal of Finance,56(1),369-385。  new window
18.Cowen, Amanda、Groysberg, Boris、Healy, Paul(2006)。Which Types of Analyst Firms Are More Optimistic?。Journal of Accounting and Economics,41(1/2),119-146。  new window
19.Stickel, Scott E.(1992)。Reputation and Performance among Security Analysts。The Journal of Finance,47(5),1811-1836。  new window
20.Givoly, Dan、Lakonishok, Josef(1979)。The Information Content of Financial Analysts' Forecasts of Earnings: Some Evidence on Semi-strong Inefficiency。Journal of Accounting & Economics,1(3),165-185。  new window
21.Francis, Jennifer、Philbrick, Donna(1993)。Analysts' decisions as products of a multi-task environment。Journal of Accounting Research,31(2),216-230。  new window
22.Brav, Alon、Lehavy, Reuven(2003)。An Empirical Analysis of Analysts' Target Prices: Short-term Informativeness and Long-term Dynamics。The Journal of Finance,58(5),1933-1968。  new window
23.Jackson, Andrew R.(2005)。Trade generation, reputation, and sell-side analysts。Journal of Finance,60(2),673-717。  new window
24.Malmendier, Ulrike、Shanthikumar, Devin(2007)。Are small investors naive about incentives?。Journal of Financial Economics,85(2),457-489。  new window
25.Griffin, Paul A.(1976)。Competitive information in the stock market: An empirical study of earnings, dividends, and analysts' forecasts。Journal of Finance,31(2),631-650。  new window
26.Bonner, Sarah E.、Hugon, Artur、Walther, Beverly R.(2007)。Investor Reaction to Celebrity Analysts: The Case of Earnings Forecast Revisions。Journal of Accounting Research,45(3),481-513。  new window
27.Barber, Brad M.、Lehavy, Reuven、McNichols, Maureen、Trueman, Brett(2003)。Reassessing the returns to analysts' stock recommendations。Financial Analysts Journal,59(2),88-96。  new window
28.Lai, Sandy、Teo, Melvyn(2008)。Home-biased analysts in emerging markets。Journal of Financial and Quantitative Analysis,43(3),685-716。  new window
29.Arand, Daniel、Kerl, Alexander、Walter, Andreas(2015)。When do sell-side analyst reports really matter? Shareholder protection, institutional investors and the informativeness of equity research。European Financial Management,21(3),524-555。  new window
30.Stickel, Scott E.(1991)。Common stock returns surrounding earnings forecast revisions: more puzzling evidence。Accounting Review,66(2),402-416。  new window
31.Mikhail, Michael B.、Walther, Beverly R.、Willis, Richard H.(2003)。Security analyst experience and post-earnings-announcement drift。Journal of Accounting, Auditing & Finance,18(4),529-550。  new window
32.Harris, Robert S.、Marston, Felicia C.(1994)。Value versus growth stocks: Book-to-market, growth, and beta。Financial Analysts Journal,50(5),18-24。  new window
33.Jegadeesh, Narasimhan、Kim, Joonghyuk、Krische, Susan D.、Lee, Charles M. C.(2004)。Analyzing the Analysts: When Do Recommendations Add Value?。The Journal of Finance,59(3),1083-1124。  new window
34.Altinkilic, Oya、Hansen, Robert S.(2009)。On the Information Role of Stock Recommendation Revisions。Journal of Accounting and Economics,48(1),17-36。  new window
35.Bretschger, Lucas、Kappel, Vivien、Werner, Therese(2012)。Market concentration and the likelihood of financial crises。Journal of Banking and Finance,36(12),3336-3345。  new window
36.Irvine, Paul、Lipson, Marc、Puckett, Andy(2006)。Tipping。Review of Financial Studies,20,741-768。  new window
37.Jegadeesh, Narasimhan、Kim, Woojin(2009)。Do analysts herd? An analysis of recommendations and market reactions。Review of Financial Studies,23,901-937。  new window
38.Kecskés, Ambrus、Michaely, Roni、Womack, Kent L.(2016)。Do earnings estimates add value to sell-side analysts' investment recommendations?。Management science,63(6),1855-1871。  new window
39.Lin, Shannon、Tan, Hongping、Zhang, Zenan(2016)。When analysts talk, do institutional investors listen? Evidence from target price changes。Financial Review,51,191-223。  new window
40.Malmendier, Ulrike、Shanthikumar, Devin(2014)。Do security analysts speak in two tongues?。Review of Financial Studies,27(5),1287-1322。  new window
41.Moshirian, Fariborz、Ng, David、Wu, Eliza(2009)。The value of stock analysts' recommendations: Evidence from emerging markets。International Review of Financial Analysis,18(1/2),74-83。  new window
42.Morck, Randall、Yeung, Bernard、Yu, Wayne(2000)。The Information Content of Stock Markets: Why Do Emerging Markets Have Synchronous Stock Price Movements?。Journal of Financial Economics,58(1/2),215-260。  new window
43.Brennan, Michael J.、Jagadeesh, Narasimhan、Swaminathan, Bhaskaran(1993)。Investment Analysis and the Adjustment of Stock Prices to Common Information。Review of Financial Studies,6(4),799-824。  new window
44.Daniel, Kent、Grinblatt, Mark、Titman, Sheridan、Wermers, Russ(1997)。Measuring Mutual Fund Performance with Characteristic-based Benchmarks。Journal of Finance,52(3),1035-1058。  new window
45.Francis, Jennifer、Soffer, Leonard(1997)。The relative informativeness of analysts' stock recommendations and earnings forecast revisions。Journal of Accounting Research,35(2),193-211。  new window
46.Gleason, Cristi A.、Lee, Charles M. C.(2003)。Analyst Forecast Revisions and Market Price Discovery。The Accounting Review,78(1),193-225。  new window
47.Lin, Hsiou-wei、McNichols, Maureen F.(1998)。Underwriting Relationships, Analysts' Earnings Forecasts and Investment Recommendations。Journal of Accounting and Economics,25(1),101-127。  new window
48.Womack, Kent L.(1996)。Do Brokerage Analysts' Recommendations Have Investment Value?。The Journal of Finance,51(1),137-167。  new window
49.Hirshleifer, David、Teoh, Siew Hong(2003)。Limited attention, information disclosure, and financial reporting。Journal of Accounting and Economics,36(1-3),337-386。  new window
50.Asquith, Paul、Mikhail, Michael B.、Au, Andrea S.(2005)。Information content of equity analyst reports。Journal of Financial Economics,75(2),245-282。  new window
51.Givoly, Dan、Lakonishok, Josef(1980)。Financial Analysts' Forecasts of Earnings: Their Value to Investors。Journal of Banking & Finance,4(3),221-233。  new window
研究報告
1.Chen, Qi、Francis, Jennifer、Schipper, Katherine(2005)。The applicability of the fraud on the market presumption to analysts' forecasts。  new window
其他
1.China Post News Staff(20140922)。New FSC guidelines to impact availability of market analysis。  new window
 
 
 
 
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