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Investor Inattention and the Underreaction to Stock Recommendations

Citations

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Cited by:

  1. Xiaoting Wei & Viet Do, 2022. "Equity analysts' recommendation revisions and corporate bond price reactions," International Review of Finance, International Review of Finance Ltd., vol. 22(4), pages 669-687, December.
  2. Xu Gong & Mengjie Li & Keqin Guan & Chuanwang Sun, 2023. "Climate change attention and carbon futures return prediction," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 43(9), pages 1261-1288, September.
  3. Cevheroğlu-Açar, Merve G. & Karahan, Cenk C. & Yılmaz, Neslihan, 2022. "Is there an analyst (un)coverage premium?," Research in International Business and Finance, Elsevier, vol. 61(C).
  4. Liu, Jian-Guo & Yang, Zhen-Hua & Li, Sheng-Nan & Yu, Chang-Rui, 2018. "A generative model for the collective attention of the Chinese stock market investors," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 512(C), pages 1175-1182.
  5. Yury O. Kucheev & Felipe Ruiz & Tomas Sorensson, 2017. "Do Stars Shine? Comparing the Performance Persistence of Star Sell-Side Analysts Listed by Institutional Investor, the Wall Street Journal, and StarMine," Journal of Financial Services Research, Springer;Western Finance Association, vol. 52(3), pages 277-305, December.
  6. Zhen-Hua Yang & Jian-Guo Liu & Chang-Rui Yu & Jing-Ti Han, 2017. "Quantifying the effect of investors’ attention on stock market," PLOS ONE, Public Library of Science, vol. 12(5), pages 1-16, May.
  7. Kucheev, Yury O. & Sorensson, Tomas, 2016. "The origin of outperformance for stock recommendations by sell-side analysts," INDEK Working Paper Series 2016/13, Royal Institute of Technology, Department of Industrial Economics and Management.
  8. Kim, Karam & Ryu, Doojin & Yang, Heejin, 2021. "Information uncertainty, investor sentiment, and analyst reports," International Review of Financial Analysis, Elsevier, vol. 77(C).
  9. Miwa, Kotaro, 2023. "How quickly do investors react to analyst reports? Evidence from reports released outside trading hours," Global Finance Journal, Elsevier, vol. 57(C).
  10. Gu, Chen & Kurov, Alexander, 2020. "Informational role of social media: Evidence from Twitter sentiment," Journal of Banking & Finance, Elsevier, vol. 121(C).
  11. Dan Palmon & Bharat Sarath & Hua C. Xin, 2020. "Bold Stock Recommendations: Informative or Worthless?†," Contemporary Accounting Research, John Wiley & Sons, vol. 37(2), pages 773-801, June.
  12. Alexander Kerl & Carolin Schürg & Andreas Walter, 2014. "The impact of Financial Times Deutschland news on stock prices: post-announcement drifts and inattention of investors," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 28(4), pages 409-436, November.
  13. Duc Dang Thi Viet & Hoai Nguyen Thu & Nguyen Van Phuoc & Nguyen Dang Phong & Anh Nguyen Huong & Hai Ho Hong, 2024. "Google Search intensity and stock returns in frontier markets: Evidence from the Vietnamese market," Economics and Business Review, Sciendo, vol. 10(1), pages 30-56, April.
  14. Zhu, Hui, 2014. "Implications of limited investor attention to customer–supplier information transfers," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(3), pages 405-416.
  15. Chen, Xing & Wu, Chongfeng, 2022. "Retail investor attention and information asymmetry: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
  16. Rongsheng Shi & Zhi Xu & Zhengrong Chen & Jing Huang, 2012. "Does attention affect individual investors' investment return?," China Finance Review International, Emerald Group Publishing Limited, vol. 2(2), pages 143-162, April.
  17. Wang, Jianli & Wang, Shaolin & Dong, Minghua & Wang, Hongxia, 2024. "ESG rating disagreement and stock returns: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 91(C).
  18. Andrey Kudryavtsev, 2021. "The Correlation Between Stock Returns Before And After Analyst Recommendation Revisions," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 66(228), pages 69-100, January –.
  19. Nam, Jouahn & Wang, Jun & Xing, Cunyu & Zhang, Ge, 2018. "Are hated stocks good investments?," The North American Journal of Economics and Finance, Elsevier, vol. 43(C), pages 19-29.
  20. Dong, Dayong & Wu, Keke & Fang, Jianchun & Gozgor, Giray & Yan, Cheng, 2022. "Investor attention factors and stock returns: Evidence from China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
  21. Lifang Li & Valentina Galvani, 2021. "Informed Trading and Momentum in the Corporate Bond Market [Asset pricing with liquidity risk]," Review of Finance, European Finance Association, vol. 25(6), pages 1773-1816.
  22. Joon Chae & Ryumi Kim & Jaehee Han, 2020. "Investor Attention from Internet Search Volume and Underreaction to Earnings Announcements in Korea," Sustainability, MDPI, vol. 12(22), pages 1-29, November.
  23. Yezegel, Ari, 2015. "Why do analysts revise their stock recommendations after earnings announcements?," Journal of Accounting and Economics, Elsevier, vol. 59(2), pages 163-181.
  24. Jiang, George J. & Zhu, Kevin X., 2017. "Information Shocks and Short-Term Market Underreaction," Journal of Financial Economics, Elsevier, vol. 124(1), pages 43-64.
  25. Jeon, Jin Q. & Lee, Cheolwoo & Nasser, Tareque & Via, M. Tony, 2015. "Multiple lead underwriter IPOs and firm visibility," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 128-149.
  26. Altınkılıç, Oya & Hansen, Robert S. & Ye, Liyu, 2016. "Can analysts pick stocks for the long-run?," Journal of Financial Economics, Elsevier, vol. 119(2), pages 371-398.
  27. Feng Zhao & Youzhi Xiao, 2023. "Information Searching from New Media and Households’ Investment in Risky Assets: New Evidence from a Quasi-Natural Experiment," Sustainability, MDPI, vol. 15(4), pages 1-25, February.
  28. Chen Su, 2023. "The price impact of analyst revisions and the state of the economy: Evidence around the world," The Financial Review, Eastern Finance Association, vol. 58(4), pages 887-930, November.
  29. Rui Liu & Jiayou Liang & Haolong Chen & Yujia Hu, 2024. "Analyst Reports and Stock Performance: Evidence from the Chinese Market," Papers 2411.08726, arXiv.org.
  30. Andrey Kudryavtsev, 2018. "Holiday effect on stock price reactions to analyst recommendation revisions," Journal of Asset Management, Palgrave Macmillan, vol. 19(7), pages 507-521, December.
  31. Panpan Zhu & Xing Zhang & You Wu & Hao Zheng & Yinpeng Zhang, 2021. "Investor attention and cryptocurrency: Evidence from the Bitcoin market," PLOS ONE, Public Library of Science, vol. 16(2), pages 1-28, February.
  32. Welagedara, Venura & Deb, Saikat Sovan & Singh, Harminder, 2017. "Investor attention, analyst recommendation revisions, and stock prices," Pacific-Basin Finance Journal, Elsevier, vol. 45(C), pages 211-223.
  33. Taufiq Choudhry & Gishan Dissanaike & Ranadeva Jayasekera & Woo-Young Kang & Matthias Nnadi, 2021. "Loss sensitive investors and positively biased analysts in Hong Kong stock market," Review of Quantitative Finance and Accounting, Springer, vol. 57(4), pages 1345-1371, November.
  34. Zhong, Angel & Chai, Daniel & Li, Bob & Chiah, Mardy, 2018. "Volume shocks and stock returns: An alternative test," Pacific-Basin Finance Journal, Elsevier, vol. 48(C), pages 1-16.
  35. Zhibing Li & Jie Liu & Xiaoyu Liu & Chonglin Wu, 2024. "Investor attention and stock price efficiency: Evidence from quasi‐natural experiments in China," Financial Management, Financial Management Association International, vol. 53(1), pages 175-225, March.
  36. Wang, Chen & Shen, Dehua & Li, Youwei, 2022. "Aggregate Investor Attention and Bitcoin Return: The Long Short-term Memory Networks Perspective," Finance Research Letters, Elsevier, vol. 49(C).
  37. Andrey Kudryavtsev, 2020. "Stock Return Dynamics after Analyst Recommendation Revisions," Journal of Risk & Control, Risk Market Journals, vol. 7(1), pages 1-16.
  38. Khasawneh, Maher & McMillan, David G. & Kambouroudis, Dimos, 2024. "Left-tail risk and UK stock return predictability: Underreaction, overreaction, and arbitrage difficulties," International Review of Financial Analysis, Elsevier, vol. 95(PA).
  39. Anh Dang & Trung Nguyen, 2021. "Valuation Effect of Emotionality in Corporate Philanthropy," Journal of Business Ethics, Springer, vol. 173(1), pages 47-67, September.
  40. Michaely, Roni & Rubin, Amir & Vedrashko, Alexander, 2016. "Are Friday announcements special? Overcoming selection bias," Journal of Financial Economics, Elsevier, vol. 122(1), pages 65-85.
  41. Chris Stivers & Licheng Sun, 2013. "Market Cycles and the Performance of Relative Strength Strategies," Financial Management, Financial Management Association International, vol. 42(2), pages 263-290, June.
  42. Kucheev, Yury O. & Ruiz, Felipe & Sorensson, Tomas, 2015. "Star sell-side analysts listed by Institutional Investor, The Wall Street Journal and StarMine. Whose recommendations are most profitable?," INDEK Working Paper Series 2015/11, Royal Institute of Technology, Department of Industrial Economics and Management.
  43. Chen, Xing & Diao, Xundi & Wu, Chongfeng, 2022. "Heterogeneous investor attention and post earnings announcement drift: Evidence from China," Economic Modelling, Elsevier, vol. 110(C).
  44. Liyi Zheng, 2020. "The type of corporate announcements and its implication on trading behaviour," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(S1), pages 629-659, April.
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