Information processing in financial markets: three essays on equity analysts
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| 1. Verfasser: | |
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
2013
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| Schlagworte: | |
| Online-Zugang: | kostenfrei kostenfrei Inhaltsverzeichnis |
| Beschreibung: | IV, 108 Bl. graph. Darst. |
Internformat
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Datensatz im Suchindex
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| adam_text | Titel: Information processing in financial markets
Autor: Pucker, Oliver
Jahr: 2013
Contents
List of Tables............................................................................................................................iii
List of Figures..........................................................................................................................iv
Chapter 1 -Introduction.........................................................................................................1
Chapter 2 - The Good, The Bad, and The Lucky: Projected Earnings Accuracy and
Profitability of Stock Recommendations..............................................................................10
2.1 Introduction......................................................................................................................10
2.2 Research Design...............................................................................................................15
2.3 Data and Methodology.....................................................................................................16
2.3.1 Data..........................................................................................................................16
2.3.2 Projected Earnings Accuracy...................................................................................18
2.3.3 Identification of Able, Unable and Lucky Analysts.................................................22
2.3.4 Profitability of Recommendations...........................................................................27
2.3.4.1 Trading Strategy.............................................................................................27
2.3.4.2 Event-Study....................................................................................................29
2.4 Results..............................................................................................................................31
2.4.1 Results of the Trading Strategy................................................................................31
2.4.2 Results of the Event-Study.......................................................................................36
2.4.3 Differences in Ex Post Realized Accuracy..............................................................41
2.5 Conclusion.......................................................................................................................43
Chapter 3 - Sell Side Recommendations during Booms and Busts...................................45
3.1 Introduction......................................................................................................................45
3.2 Data..................................................................................................................................49
3.3 Research Design Results..............................................................................................52
3.3.1 Event Returns and the Price Formation Process......................................................52
3.3.2 Analyst Preferences Towards Firms........................................................................57
3.3.4 Quantitative Investment Signals..............................................................................64
3.4 Robustness Checks...........................................................................................................66
3.4.1 Regulation FD, Median Returns, and CFNAI Business Cycle Classification.........66
3.4.2 Herding Behavior.....................................................................................................70
3.5 Conclusion.......................................................................................................................75
Chapter 4 - Do Aggregate Company Outlooks have Macroeconomic Content?.............77
4.1 Introduction......................................................................................................................77
4.2 Research Design...............................................................................................................81
4.3 Data..................................................................................................................................85
4.4 Results..............................................................................................................................88
4.5 Conclusion.......................................................................................................................95
References...............................................................................................................................96
Appendix to Chapter 2.........................................................................................................103
Appendix to Chapter 4.........................................................................................................107
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| spelling | Pucker, Oliver Verfasser (DE-588)104166138X aut Information processing in financial markets three essays on equity analysts von Oliver Pucker 2013 IV, 108 Bl. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Köln, Univ., Diss., 2013 Finanzanalyse (DE-588)4133000-6 gnd rswk-swf Anlagepolitik (DE-588)4206018-7 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Finanzanalyse (DE-588)4133000-6 s Anlagepolitik (DE-588)4206018-7 s b DE-604 Erscheint auch als Online-Ausgabe urn:nbn:de:hbz:38-53008 http://kups.ub.uni-koeln.de/id/eprint/5300 Verlag kostenfrei Volltext https://nbn-resolving.org/urn:nbn:de:hbz:38-53008 Resolving-System kostenfrei Volltext HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027141529&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Pucker, Oliver Information processing in financial markets three essays on equity analysts Finanzanalyse (DE-588)4133000-6 gnd Anlagepolitik (DE-588)4206018-7 gnd |
| subject_GND | (DE-588)4133000-6 (DE-588)4206018-7 (DE-588)4113937-9 |
| title | Information processing in financial markets three essays on equity analysts |
| title_auth | Information processing in financial markets three essays on equity analysts |
| title_exact_search | Information processing in financial markets three essays on equity analysts |
| title_full | Information processing in financial markets three essays on equity analysts von Oliver Pucker |
| title_fullStr | Information processing in financial markets three essays on equity analysts von Oliver Pucker |
| title_full_unstemmed | Information processing in financial markets three essays on equity analysts von Oliver Pucker |
| title_short | Information processing in financial markets |
| title_sort | information processing in financial markets three essays on equity analysts |
| title_sub | three essays on equity analysts |
| topic | Finanzanalyse (DE-588)4133000-6 gnd Anlagepolitik (DE-588)4206018-7 gnd |
| topic_facet | Finanzanalyse Anlagepolitik Hochschulschrift |
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