Market reactions to the reports of a star resource analyst

Australian Journal of Management

Volumn 39, Issue 1, 2014, Pages 137-158

  Brown, Philip ^a   Feigin, Alexey ^b   Ferguson, Andrew ^b  

^a UNIVERSITY OF NEW SOUTH WALES   (Australia)

^b UNIVERSITY OF TECHNOLOGY SYDNEY   (Australia)

Author keywords

Detecting abnormal market behavior; extractive industries; gold; market microstructure; specialist; star analyst

Indexed keywords

EID: 84893687107     PISSN: 03128962     EISSN: 13272020     Source Type: Journal    
DOI: 10.1177/0312896212470672     Document Type: Article

References (26)

1. Akerlof G.The market for lemons: Quality uncertainty and the market mechanism.Quarterly Journal of Economics. 1970;84:488-500.
2. Beaver WH.The Information Content of Annual Earnings Announcements.Journal of Accounting Research. 1968;6:67-92.
3. Bonner SE,Hugon A,Walther BR.Investor reaction to celebrity analysts: The case of earnings forecast revisions.Journal of Accounting Research. 2007;45:481-513.
4. Brown P,Ferguson A,Jackson AB.Pierpont and the capital market.Abacus. 2009;45:147-170.
5. BrownPKwanRWeeM (2006) Investors' order placement strategies around the time of a market sensitive announcement. Working paper, University of Western Australia, Perth, WA. Available at SSRN: http://ssrn.com/abstract=2188744 (accessed 14 December 2012).
6. Brown P,Thomson N,Walsh D.Characteristics of the order flow through an electronic open limit order book.Journal of International Financial Markets, Institutions and Money. 1999;9:335-357.
7. Desai H,Jain PC.Long-run stock returns following Briloff's analyses.Financial Analysts Journal. 2004;60:47-56.
8. Efron B.The bootstrap and modern statistics.Journal of the American Statistical Association. 2000;95:1293-1296.
9. Ferguson A,Grosse M,Kean S, et al.Your governance or mine?.Australian Accounting Review. 2011;21:406-417.
10. Statement of Financial Accounting Standards No. 7: Accounting and Reporting by Development Stage Enterprises. Stamford, CT: FASB; 1975:.
11. Foster G.Briloff and the capital market.Journal of Accounting Research. 1979;17:262-274.
12. Foster G.Rambo IX: Briloff and the capital market.Journal of Accounting, Auditing and Finance. 1987;2:409-430.
13. Francis J,Philbrick D.Analysts' decisions as products of a multi-task environment.Journal of Accounting Research. 1993;31:216-230.
14. Gilson SC,Healy PM,Noe CF, et al.Analyst specialization and conglomerate stock breakups.Journal of Accounting Research. 2001;39:565-582.
15. Gleason CA,Lee CMC.Analyst forecast revisions and market price discovery.Accounting Review. 2003;78:193-255.
16. Heckman J.Sample selection bias as a specification error.Econometrica. 1979;47:153-161.
17. Jacob J.Discussion of do security analysts improve their performance with experience?.Journal of Accounting Research. 1997;35:159-166.
18. Jacob J,Lys TZ,Neale MA.Expertise in forecasting performance of security analysts.Journal of Accounting & Economics. 1999;28:51-82.
19. Kirk M.Research for sale: Determinants and consequences of paid-for research.Journal of Financial Economics. 2011;100:182-200.
20. LeoneAJWuJS (2007) What does it take to become a superstar? Evidence from institutional investor rankings of financial analysts. Working paper, University of Rochester, Rochester, NY. Available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=313594 (accessed 5 June 2010).
21. Mikhail MB,Walther BR,Willis RH.Do security analysts improve their performance with experience?.Journal of Accounting Research. 1997;35:131-157.
22. Schipper K.Analysts' forecasts.Accounting Horizons. 1991;5:105-121.
23. Stickel SE.Reputation and performance among security analysts.Journal of Finance. 1992;47:1811-1836.
24. Weber J,Willenborg M.Do expert informational intermediaries add value? Evidence from auditors in microcap initial public offerings.Journal of Accounting Research. 2003;41:681-720.
25. Willenborg M.Empirical analysis of the economic demand for auditing in the initial public offerings market.Journal of Accounting Research. 1999;37:225-238.
26. Womack KL.Do brokerage analysts' recommendations have investment value?.Journal of Finance. 1996;51:137-116.