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The accuracy of financial analysts’ earnings forecasts and the Tunisian market reliance with time

Ahmed, Bouteska; Boutheina, Regaieg - In: Cogent economics & finance 5 (2017) 1, pp. 1-14

paper is to investigate whether following the Tunisian stock market opening, both the analyst forecast accuracy and the … increasing with time. Second, we find evidence that earnings expectations are not mainly based on analyst forecast in the first … (2010–2015) as analyst forecast better explain returns and exhibit greater relative information content. …

Persistent link: https://www.econbiz.de/10011882305

Return predictability and valuation ratios : sector-level evidence on the Johannesburg Stock Exchange

Chipunza, Kudakwashe Joshua; Muguto, Hilary Tinotenda; … - In: Cogent economics & finance 8 (2020) 1, pp. 1-27

The efficient market hypothesis describes an efficient market as one in which investors cannot consistently predict stock returns because prices instantly reflect all the information flowing into the market. However, return predictability has been documented in many markets. This study tests the...

Persistent link: https://www.econbiz.de/10013179575

Predictability of earnings and its impact on stock returns : evidence from India

Kundu, Sayantan; Banerjee, Aditya - In: Cogent economics & finance 9 (2021) 1, pp. 1-24

The purpose of this paper is to analyse the predictability of earnings information before the quarterly disclosure date. Two categories of firms are contrasted: the firms that announce better quarterly earnings than the prior period and the firms that do not. The paper uses a sample of 67...

Persistent link: https://www.econbiz.de/10013183853

Investor sentiment and stock return volatility : evidence from the Johannesburg Stock Exchange

Rupande, Lorraine; Muguto, Hilary Tinotenda; … - In: Cogent economics & finance 7 (2019) 1, pp. 1-16

risk distribution of financial assets. In conventional financial theory, investors are considered to be rational and any …

Persistent link: https://www.econbiz.de/10012023919

Empirical measures of symmetry of market sentiments

Moseki, K.K.; Rao, K.S. Madhava - In: Cogent economics & finance 6 (2018) 1, pp. 1-28

The analysis of asset return series of equity prices and stock indices is a well-researched problem tackled by economists, business and financial analysts in the last few decades. It has captured the fancy of financial economists, global and local portfolio investment consultants, foreign...

Persistent link: https://www.econbiz.de/10011898917

Is a night better than a day : empirical evidence

Deshkovski, A.; Dzeshkovskaia, A. - In: Cogent economics & finance 2 (2014) 1, pp. 2-10

In this study, we analyze the portfolio allocation based on time asymmetry of stock characteristics. In particular, we analyzed the empirical data of changes in financial stock prices during the day period and during the night period and have found that characteristics such as mean and variance...

Persistent link: https://www.econbiz.de/10010474316

Six-factor plus intellectual capital in the capital asset pricing model and excess stock return : empirical evidence in emerging stock markets

Maharani, Astrid; Narsa, I Made - In: Cogent economics & finance 11 (2023) 2, pp. 1-17

This study expands previous research by adding intellectual capital to the capital asset pricing model and deepening the measurement of intellectual capital using more comprehensive proxies. This study is novel in that it is related to evaluation according to market developments using tests on...

Persistent link: https://www.econbiz.de/10014502990

Attitudes towards ambiguous information and stock returns

Zhang, Ziyun - In: Cogent economics & finance 7 (2019) 1, pp. 1-33

This study examines whether investors’ attitudes toward ambiguity can explain cross-sectional stock returns by investigating the relationship between future stock returns and option-implied volatilities as well as implied third moments. We find that investors’ attitudes toward different...

Persistent link: https://www.econbiz.de/10014232777

Does financial integration impact performance of equity anomalies?

Sharma, Gagan; Sehgal, Sanjay; Mishra, Anil V. - In: Cogent economics & finance 10 (2022) 1, pp. 1-51

We examine prominent market anomalies and evaluate the efficacy of alternative asset pricing models under different financial integration settings. A financial integration index is developed for classifying 25 sample markets into high-, medium- and low integration groups. Size is found to be the...

Persistent link: https://www.econbiz.de/10013391096

Stock return predictability and market integration : the role of global and local information

McMillan, David G. - In: Cogent economics & finance 4 (2016) 1, pp. 1-18

This paper examines the predictability of a range of international stock markets where we allow the presence of both local and global predictive factors. Recent research has argued that US returns have predictive power for international stock returns. We expand this line of research, following...

Persistent link: https://www.econbiz.de/10011487829

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