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題名:Do Security Analysts Herd on Target Price Forecasts?
書刊名:證券市場發展季刊
作者:謝文良 引用關係邱忠榮
作者(外文):Hsieh, Wen-liangChiou, Jong-rong
出版日期:2020
卷期:32:3=127
頁次:頁115-172
主題關鍵詞:目標價從眾行為證券分析師預測偏誤Target pricesHerdingFinancial analystsForecast bias
原始連結:連回原系統網址new window
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  • 被引用次數被引用次數:期刊(0) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:0
  • 共同引用共同引用:5
  • 點閱點閱:3
期刊論文
1.Jegadeesh, N.、Kim, W. J.(2010)。Do analysts herd? An analysis of recommendations and market reactions。Review of Financial Studies,23(2),901-937。  new window
2.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
3.Clement, M. B.、Tse, S. Y.(2005)。Financial Analyst Characteristics and Herding Behavior in Forecasting。The Journal of Finance,60(1),307-341。  new window
4.Gleason, K. C.、Mathur, I.、Peterson, M. A.(2004)。Analysis of Intraday Herding Behavior among the Sector ETFs。Journal of Empirical Finance,11(5),681-694。  new window
5.Loh, Roger K.、Stulz, René M.(2011)。When are analyst recommendation changes influential?。The Review of Financial Studies,24(2),593-627。  new window
6.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
7.Beneish, Messod D.(1991)。Stock prices and the Dissemination of Analysts' Recommendation。Journal of Business,64(3),393-416。  new window
8.Cooper, Rick A.、Day, Theodore E.、Lewis, Craig M.(2001)。Following the Leader: a Study of Individual Analysts' Earnings Forecasts。Journal of Financial Economics,61(3),383-416。  new window
9.Trueman, Brett(1994)。Analyst forecasts and herding behavior。Review of Financial Studies,7(1),97-124。  new window
10.Hong, Harrison、Kubik, Jeffrey D.、Solomon, Amit(2000)。Security Analysts' Career Concerns and Herding of Earnings Forecasts。The RAND Journal of Economics,31(1),121-144。  new window
11.Mayew, W. J.(2008)。Evidence of Management Discrimination Among Analysts during Earnings Conference Calls。Journal of Accounting Research,46(3),627-659。  new window
12.Prendergast, C.、Stole, L.(1996)。Impetuous Youngsters and Jaded Old-Timers: Acquiring a Reputation for Learning。Journal of Political Economy,104(6),1105-1134。  new window
13.汪進揚、余俊憲(20050100)。財務分析師盈餘預測誤差與預測行為影響因素之研究。證券市場發展,16(4)=64,117-144。new window  延伸查詢new window
14.林修葳、吳瑞萱(20100700)。Do Analysts Neglect the Recovering Stocks? From a Behavioral Perspective。會計評論,51,1-26。new window  new window
15.Welch, I.(2000)。Herding among security analysts。Journal of Financial Economics,58(3),369-396。  new window
16.Ivković, Z.、Jegadeesh, N.(2004)。The Timing and Value of Forecast and Recommendation Revisions。Journal of Financial Economics,73(3),433-463。  new window
17.Bilinski, P.、Lyssimachou, D.、Walker, M.(2013)。Target Price Accuracy: International Evidence。The Accounting Review,88(3),825-851。  new window
18.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
19.Jackson, Andrew R.(2005)。Trade generation, reputation, and sell-side analysts。Journal of Finance,60(2),673-717。  new window
20.Chen, Q.、Jiang, W.(2006)。Analysts' weighting of private and public information。Review of Financial Studies,19(1),319-355。  new window
21.Graham, John R.(1999)。Herding among investment newsletters: theory and evidence。The Journal of Finance,54(1),237-268。  new window
22.Lai, Sandy、Teo, Melvyn(2008)。Home-biased analysts in emerging markets。Journal of Financial and Quantitative Analysis,43(3),685-716。  new window
23.Hong, Harrison、Lim, Terence、Stein, Jeremy C.(2000)。Bad news travels slowly: size, analyst coverage, and the profitability of momentum strategies。Journal of Finance,55(1),265-295。  new window
24.陳一如(20080200)。代表性偏誤影響分析師推薦行為之探討。中華管理評論,11(1),(3)1-(3)32。  延伸查詢new window
25.林問一、賴紀誠(20101200)。券商分析師樂觀盈餘預測與所屬券商自營部門買賣超之關連性。會計與公司治理,7(2),1-18。new window  延伸查詢new window
26.Bernhardt, Dan、Campello, Murillo、Kutsoati, Edward(2006)。Who Herds?。Journal of Financial Economics,80(3),657-675。  new window
27.Li, Chun-An、Tang, Ming-Hsi(2011)。Reputation, information ambiguity, and analysts herding and anti-herding behavior。Journal of Financial Studies,19(3),81-120。  new window
28.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
29.Hirshleifer, David、Subrahmanyam, Avanidhar、Titman, Sheridan(1994)。Security Analysis and Trading Patterns When Some Investors Receive Information Before Others。Journal of Finance,49(5),1665-1698。  new window
30.Scharfstein, David S.、Stein, Jeremy C.(1990)。Herd Behavior and Investment。The American Economic Review,80(3),465-479。  new window
31.Hilary, Gilles、Menzly, Lior(2006)。Does past success lead analysts to become overconfident?。Management Science,52(4),489-500。  new window
32.Hirshleifer, D.、Teoh, S. Hong(2003)。Herd behaviour and cascading in capital markets: A review and synthesis。European Financial Management,9(1),25-66。  new window
33.Malmendier, Ulrike、Shanthikumar, Devin(2014)。Do security analysts speak in two tongues?。Review of Financial Studies,27(5),1287-1322。  new window
34.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
35.Brunnermeier, M. K.(2005)。Information Leakage and Market Efficiency。The Review of Financial Studies,18(2),417-457。  new window
36.Da, Z.、Hong, K. P.、Lee, S.(2016)。What Drives Target Price Forecasts and Their Investment Value?。Journal of Business Finance and Accounting,43(3/4),487-510。  new window
37.Ford, J. L.、Kelsey, D.、Pang, W.(2013)。Information and Ambiguity: Herd and Contrarian Behaviour in Financial Markets。Theory and Decision,75(1),1-15。  new window
38.Kadan, O.、Michaely, R.、Moulton, P. C.(2018)。Trading in the Presence of Short-lived Private Information: Evidence from Analyst Recommendation Changes。Journal of Financial and Quantitative Analysis,53(4),1509-1546。  new window
39.Lin, T. H.、Jang, W. Y.、Tsang, S. S.(2013)。Do Security Analysts Herd on Stock Recommendations and Does it Affect Returns?。International Journal of Economics and Finance,5(6),67-83。  new window
40.Naujoks, M.、Aretz, K.、Kerl, A. G.、Walter, A.(2009)。Do German Security Analysts Herd?。Financial Markets and Portfolio Management,23(1),3-29。  new window
41.Youssef, M.、Rajhi, M. T.(2010)。Does Herding Behavior Affect Analysts' Earnings Forecasts? A Study of French Listed Firms。International Journal of Economics and Finance,2(2),125-136。  new window
42.Hong, Harrison、Kubik, Jeferey D.(2003)。Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts。Journal of Finance,58(1),313-351。  new window
43.Gleason, Cristi A.、Lee, Charles M. C.(2003)。Analyst Forecast Revisions and Market Price Discovery。The Accounting Review,78(1),193-225。  new window
44.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
45.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
46.Kerl, Alexander G.(2011)。Target Price Accuracy。Business Research Journal,4(1),74-96。  new window
會議論文
1.Krishnan, M. M.、Lim, S. C.、Zhou, P.(2006)。Analysts' herding propensity: Theory and evidence from earnings forecasts。AAA 2007 Financial Accounting & Reporting Section (FARS) Meeting。  new window
研究報告
1.Bilinski, P.、Cumming, D. J.、Hass, L. H.、Stathopoulos, K.、Walker, M.(2015)。Strategic Distortions in Analyst Target Prices in the Presence of Short-term Institutional Investors。Cass Business School。  new window
2.Bradshaw, M. T.、Huang, A. G.、Tan, H.(2012)。Analyst Target Price Optimism Around the World。Arizona State University。  new window
3.Clarkson, P.、Nekrasov, A.、Simon, A.、Tutticci, I.(2013)。Target Price Forecasts: Fundamentals and Behavioral Factors。Irvine:University of California。  new window
4.Zitzewitz, E.(2001)。Measuring Herding and Exaggeration by Equity Analysts and other Opinion Sellers。Graduate School of Business, Stanford University。  new window
 
 
 
 
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