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Market timing using strategists' and analysts' forecasts of S&P 500 earnings per share

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  • Chung, Richard
  • Kryzanowski, Lawrence

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  • Chung, Richard & Kryzanowski, Lawrence, 2000. "Market timing using strategists' and analysts' forecasts of S&P 500 earnings per share," Financial Services Review, Elsevier, vol. 9(2), pages 125-144, 00.
    • Handle: RePEc:eee:finser:v:9:y:2000:i:2:p:125-144
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    References listed on IDEAS

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    1. Lin, Hsiou-wei & McNichols, Maureen F., 1998. "Underwriting relationships, analysts' earnings forecasts and investment recommendations," Journal of Accounting and Economics, Elsevier, vol. 25(1), pages 101-127, February.
    2. Graham, John R. & Harvey, Campbell R., 1996. "Market timing ability and volatility implied in investment newsletters' asset allocation recommendations," Journal of Financial Economics, Elsevier, vol. 42(3), pages 397-421, November.
    3. Womack, Kent L, 1996. "Do Brokerage Analysts' Recommendations Have Investment Value?," Journal of Finance, American Finance Association, vol. 51(1), pages 137-167, March.
    4. De Bondt, Werner F M & Thaler, Richard H, 1990. "Do Security Analysts Overreact?," American Economic Review, American Economic Association, vol. 80(2), pages 52-57, May.
    5. repec:bla:jfinan:v:44:y:1989:i:5:p:1177-89 is not listed on IDEAS
    6. Richard D. F. Harris, 1999. "The Accuracy, Bias and Efficiency of Analysts’ Long Run Earnings Growth Forecasts," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 26(5‐6), pages 725-755, June.
    7. Prather, Laurie & Bertin, William J., 1998. "The implication of discount rate changes for market timing," Review of Financial Economics, Elsevier, vol. 7(1), pages 21-33.
    8. Ferson, Wayne E & Schadt, Rudi W, 1996. "Measuring Fund Strategy and Performance in Changing Economic Conditions," Journal of Finance, American Finance Association, vol. 51(2), pages 425-461, June.
    9. Fama, Eugene F. & French, Kenneth R., 1989. "Business conditions and expected returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 25(1), pages 23-49, November.
    10. Brous, Peter A. & Kini, Omesh, 1993. "A reexamination of analysts' earnings forecasts for takeover targets," Journal of Financial Economics, Elsevier, vol. 33(2), pages 201-225, April.
    11. Richard Chung & Lawrence Kryzanowski, 1999. "Accuracy of consensus expectations for top-down earnings per share forecasts for two S&P indexes," Applied Financial Economics, Taylor & Francis Journals, vol. 9(3), pages 233-238.
    12. Elton, Edwin J. & Gruber, Martin J., 1991. "Differential information and timing ability," Journal of Banking & Finance, Elsevier, vol. 15(1), pages 117-131, February.
    13. Kryzanowski, Lawrence & Lalancette, Simon & To, Minh Chau, 1997. "Performance Attribution using an APT with Prespecified Macrofactors and Time-Varying Risk Premia and Betas," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 32(2), pages 205-224, June.
    14. Busse, Jeffrey A, 1999. "Volatility Timing in Mutual Funds: Evidence from Daily Returns," The Review of Financial Studies, Society for Financial Studies, vol. 12(5), pages 1009-1041.
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