What question did this study set out to answer?

The aim is to evaluate how the reputation of security analysts affects the accuracy of their earnings forecasts and subsequent stock performance.

December 1, 1992The Journal of Finance

Reputation and Performance Among Security Analysts

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Authors

SSScott E. StickelOLEDWorks (United States)

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Implication

Randomized trial shows a positive relation between reputation and performance among security analysts, indicating implications for earnings forecasts.

Key Points

The aim is to evaluate how the reputation of security analysts affects the accuracy of their earnings forecasts and subsequent stock performance.
Compared earnings forecasts from Institutional Investor All‐American Research Team to other analysts based on corporation and issuance date.
Analyzed stock returns following large upward and downward forecast revisions.
All‐Americans provided more accurate forecasts than others, especially for upward revisions.
Immediate stock price increases followed large upward forecast revisions from All‐Americans, indicating a stronger market impact.
No notable difference in returns was observed after large downward revisions.

Cite This Study

Scott E. Stickel (1992) studied this question.

synapsesocial.com/papers/69dff775bdd89ea5318608af https://doi.org/10.1111/j.1540-6261.1992.tb04684.x

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Implication

Randomized trial shows a positive relation between reputation and performance among security analysts, indicating implications for earnings forecasts.

Reputation and Performance Among Security Analysts

Discussion

Member takes

Implication

Key Points

Cite This Study

Reputation and Performance Among Security Analysts

Discussion

Member takes

Implication

Key Points

Cite This Study

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