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Stock Prices and the Publication of Second-Hand Information

Citations

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Cited by:

  1. Pearce, Douglas K & Roley, V Vance, 1985. "Stock Prices and Economic News," The Journal of Business, University of Chicago Press, vol. 58(1), pages 49-67, January.
  2. Savor, Pavel G., 2012. "Stock returns after major price shocks: The impact of information," Journal of Financial Economics, Elsevier, vol. 106(3), pages 635-659.
  3. Samant, Ajay & Burnie, David & D'Mello, James, 1995. "Signaling effects of junk bond issuance: Has the interest rate swap age made a difference?," International Review of Financial Analysis, Elsevier, vol. 4(2-3), pages 155-167.
  4. Serkan Karadas & Jorida Papakroni, 2019. "Local predictive ability of analyst recommendations," Review of Financial Economics, John Wiley & Sons, vol. 37(3), pages 351-371, July.
  5. Pieper, Ute & Schiereck, Dirk & Weber, Martin, 1992. "Die Kaufempfehlungen des "Effecten-Spiegel": Eine empirische Untersuchung im Lichte der Effizienzthese des Kapitalmarktes," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 296, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
  6. Scott Brown & Jose J. Cao-Alvira & Eric Powers, 2013. "Do Investment Newsletters Move Markets?," Financial Management, Financial Management Association International, vol. 42(2), pages 315-338, June.
  7. Mehran, Hamid & Stulz, Rene M., 2007. "The economics of conflicts of interest in financial institutions," Journal of Financial Economics, Elsevier, vol. 85(2), pages 267-296, August.
  8. Bilgehan Yazici & Gulnur Muradoglu, 2002. "Dissemination of Stock Recommendations and Small Investors: Who Benefits?," Multinational Finance Journal, Multinational Finance Journal, vol. 6(1), pages 29-42, March.
  9. Shen, Dehua & Li, Xiao & Zhang, Wei, 2018. "Baidu news information flow and return volatility: Evidence for the Sequential Information Arrival Hypothesis," Economic Modelling, Elsevier, vol. 69(C), pages 127-133.
  10. Philipp M. Schlumpf & Markus M. Schmid & Heinz Zimmermann, 2008. "The First‐ and Second‐Hand Effect of Analysts' Stock Recommendations: Evidence from the Swiss Stock Market," European Financial Management, European Financial Management Association, vol. 14(5), pages 962-988, November.
  11. Dan Palmon & Ephraim Sudit & Ari Yezegel, 2009. "The value of columnists’ stock recommendations: an event study approach," Review of Quantitative Finance and Accounting, Springer, vol. 33(3), pages 209-232, October.
  12. Amitabh Dugar & Siva Nathan, 1995. "The Effect of Investment Banking Relationships on Financial Analysts' Earnings Forecasts and Investment Recommendations," Contemporary Accounting Research, John Wiley & Sons, vol. 12(1), pages 131-160, September.
  13. Ishigami, Shohei & Takeda, Fumiko, 2018. "Market reactions to stock rating and target price changes in analyst reports: Evidence from Japan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 52(C), pages 134-151.
  14. Albert, Robert Jr. & Smaby, Timothy R., 1996. "Market response to analyst recommendations in the "dartboard" column: the information and price-pressure effects," Review of Financial Economics, Elsevier, vol. 5(1), pages 59-74.
  15. Fishe, Raymond P. H. & Robe, Michel A., 2004. "The impact of illegal insider trading in dealer and specialist markets: evidence from a natural experiment," Journal of Financial Economics, Elsevier, vol. 71(3), pages 461-488, March.
  16. Kiymaz, Halil, 2001. "The effects of stock market rumors on stock prices: evidence from an emerging market," Journal of Multinational Financial Management, Elsevier, vol. 11(1), pages 105-115, February.
  17. Ferreira, Eurico J. & Smith, Stanley D., 1999. "Stock price reactions to recommendations in the Wall Street Journal "Small Stock Focus" column," The Quarterly Review of Economics and Finance, Elsevier, vol. 39(3), pages 379-389.
  18. Antonio Lopo Martinez, 2011. "The role of analysts as gatekeepers: enhancing transparency and curbing earnings management in Brazil," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 15(4), pages 712-730.
  19. Victor Tiberius & Laura Lisiecki, 2019. "Stock Price Forecast Accuracy and Recommendation Profitability of Financial Magazines," IJFS, MDPI, vol. 7(4), pages 1-8, October.
  20. Shi, Qi & Ye, Yong & Zhao, Gang, 2023. "Speculation and clarification announcements on stock price fluctuations: Why are rumours plausible and hard to clarify?," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 473-487.
  21. Busse, Jeffrey A. & Clifton Green, T., 2002. "Market efficiency in real time," Journal of Financial Economics, Elsevier, vol. 65(3), pages 415-437, September.
  22. Lensberg, Terje & Schenk-Hoppé, Klaus Reiner & Ladley, Dan, 2012. "Costs and Benefits of Speculation," Discussion Papers 2012/12, Norwegian School of Economics, Department of Business and Management Science.
  23. Wallace N. Davidson III, 1984. "The Effect Of Rate Cases On Public Utility Stock Returns," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 7(1), pages 81-93, March.
  24. Erik R. Lidén, 2007. "Swedish Stock Recommendations: Information Content or Price Pressure?," Multinational Finance Journal, Multinational Finance Journal, vol. 11(3-4), pages 253-285, September.
  25. Asquith, Paul & Mikhail, Michael B. & Au, Andrea S., 2005. "Information content of equity analyst reports," Journal of Financial Economics, Elsevier, vol. 75(2), pages 245-282, February.
  26. Kenneth L. Stanley & Wilbur G. Lewellen & Gary G. Schlarbaum, 1981. "Further Evidence On The Value Of Professional Investment Research," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 4(1), pages 1-9, March.
  27. Barakat, Ahmed & Ashby, Simon & Fenn, Paul, 2018. "The reputational effects of analysts' stock recommendations and credit ratings: Evidence from operational risk announcements in the financial industry," International Review of Financial Analysis, Elsevier, vol. 55(C), pages 1-22.
  28. Asquith, Paul & Mikhail, Michael & Au, Andrea, 2004. "Information Content of Equity Analyst Reports," Working papers 4264-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
  29. Enrico Maria Cervellati & Riccardo Ferretti & Pierpaolo Pattitoni, 2011. "Market Reaction to Second-Hand News: Attention Grabbing or Information Dissemination," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 11021, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
  30. Marina Balboa & J. Carlos Gómez‐Sala & Germán López‐Espinosa, 2009. "The Value of Adjusting the Bias in Recommendations: International Evidence," European Financial Management, European Financial Management Association, vol. 15(1), pages 208-230, January.
  31. Ma, Yulong & Sun, Huey-Lian & Tang, Alex P., 2009. "Do insiders have inside tracks: An examination of Wall Street Journal's Inside Track columns?," International Review of Economics & Finance, Elsevier, vol. 18(3), pages 520-530, June.
  32. Erwin M. Saniga & Thomas H. McInish & Bruce K. Gouldey, 1981. "The Effect Of Differencing Interval Length On Beta," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 4(2), pages 129-135, June.
  33. Narayan, Paresh Kumar & Bannigidadmath, Deepa & Narayan, Seema, 2021. "How much does economic news influence bilateral exchange rates?," Journal of International Money and Finance, Elsevier, vol. 115(C).
  34. Pu Liu & Stanley D. Smith & Azmat A. Syed, 1992. "The Impact Of The Insider Trading Scandal On The Information Content Of The Wall Street Journal'S “Heard On The Street” Column," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 15(2), pages 181-188, June.
  35. Qianwen Xu & Victor Chang & Ching-Hsien Hsu, 0. "Event Study and Principal Component Analysis Based on Sentiment Analysis – A Combined Methodology to Study the Stock Market with an Empirical Study," Information Systems Frontiers, Springer, vol. 0, pages 1-17.
  36. Darko B. Vukovic & Vladislav Ugolnikov & Moinak Maiti, 2021. "Sell‐side analysts' recommendations a value or noise," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 3134-3151, April.
  37. David K. Ding & Angie Low, 2004. "The Designation and Removal of Trustee Stock Status: Wealth Effects," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(3‐4), pages 505-538, April.
  38. Jonathan L. Rogers & Douglas J. Skinner & Sarah L. C. Zechman, 2016. "The role of the media in disseminating insider-trading news," Review of Accounting Studies, Springer, vol. 21(3), pages 711-739, September.
  39. Christophe Boya & Jean-Louis Monino, 2010. "The impact of exogenous information on stock value through the coloration concept: a test model," Journal of Innovation Economics, De Boeck Université, vol. 0(2), pages 163-180.
  40. Stefano Bonini & Laura Zanetti & Roberto Bianchini & Antonio Salvi, 2010. "Target Price Accuracy in Equity Research," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 37(9‐10), pages 1177-1217, November.
  41. Szymon Okoń, 2012. "Investor Reaction to Mandatory Offers on the Warsaw Stock Exchange," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 6(2), June.
  42. Hae Mi Choi, 2020. "Short‐sale constraints and informational efficiency to private information: A natural experiment," The Financial Review, Eastern Finance Association, vol. 55(4), pages 625-643, November.
  43. Qianwen Xu & Victor Chang & Ching-Hsien Hsu, 2020. "Event Study and Principal Component Analysis Based on Sentiment Analysis – A Combined Methodology to Study the Stock Market with an Empirical Study," Information Systems Frontiers, Springer, vol. 22(5), pages 1021-1037, October.
  44. John L. Campbell & Matthew D. DeAngelis & James R. Moon, 2019. "Skin in the game: personal stock holdings and investors’ response to stock analysis on social media," Review of Accounting Studies, Springer, vol. 24(3), pages 731-779, September.
  45. Paul Asquith & Michael B. Mikhail & Andrea S. Au, 2002. "Information Content of Equity Analyst Reports," NBER Working Papers 9246, National Bureau of Economic Research, Inc.
  46. Sant, Rajiv & Zaman, Mir A., 1996. "Market reaction to Business Week 'Inside Wall Street' column: A self-fulfilling prophecy," Journal of Banking & Finance, Elsevier, vol. 20(4), pages 617-643, May.
  47. Kenneth L. Stanley & Wilbur G. Lewehlen & Gary G. Schlarbau, 1980. "Further Evidence on the Value of Professional Investment Research," NBER Working Papers 0536, National Bureau of Economic Research, Inc.
  48. Enrico Maria Cervellati & Riccardo Ferretti & Pierpaolo Pattitoni, 2011. "Market Reaction to Second-Hand News: Attention Grabbing or Information Dissemination," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0024, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
  49. Holden, Craig W & Subrahmanyam, Avanidhar, 1996. "Risk Aversion, Liquidity, and Endogenous Short Horizons," The Review of Financial Studies, Society for Financial Studies, vol. 9(2), pages 691-722.
  50. Hamid Rahman & Kenneth Yung, 2000. "Is There News In The Club?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 23(3), pages 311-330, September.
  51. Richard M. Levich, 1979. "Analyzing the Accuracy of Foreign Exchange Advisory Services: Theory AndEvidence," NBER Working Papers 0336, National Bureau of Economic Research, Inc.
  52. Zivney, Terry L. & Bertin, William J. & Torabzadeh, Khalil M., 1996. "Overreaction to takeover speculation," The Quarterly Review of Economics and Finance, Elsevier, vol. 36(1), pages 89-115.
  53. Paul Ryan & Richard J. Taffler, 2004. "Are Economically Significant Stock Returns and Trading Volumes Driven by Firm‐specific News Releases?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(1‐2), pages 49-82, January.
  54. Rik Hafer, 1985. "Further evidence on stock price response to changes in weekly money and the discount rate," Working Papers 1985-015, Federal Reserve Bank of St. Louis.
  55. Gerritsen, Dirk F. & Lugtigheid, Rick A.C. & Walther, Thomas, 2022. "Can Bitcoin Investors Profit from Predictions by Crypto Experts?," Finance Research Letters, Elsevier, vol. 46(PA).
  56. Robert L. Albert & Timothy R. Smaby, 1996. "Market response to analyst recommendations in the “dartboard” column: the information and price‐pressure effects," Review of Financial Economics, John Wiley & Sons, vol. 5(1), pages 59-74, December.
  57. Luo, Xueming & Zheng, Qinqin, 2018. "How firm internationalization is recognized by outsiders: The response of financial analysts," Journal of Business Research, Elsevier, vol. 90(C), pages 87-106.
  58. Qian, Qian & Yang, Yang & Gu, Jing & Feng, Hairong, 2019. "Information authenticity, spreading willingness and credit risk contagion – A dual-layer network perspective," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 536(C).
  59. Lidén, Erik R., 2003. "Swedish Stock Recommendations: Information Content or Price Pressure?," Working Papers in Economics 98, University of Gothenburg, Department of Economics, revised 19 Nov 2004.
  60. Jorida Papakroni, 2018. "The dispersion anomaly and analyst recommendations," Review of Quantitative Finance and Accounting, Springer, vol. 50(3), pages 861-896, April.
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