Please use this identifier to cite or link to this item:
http://hdl.handle.net/11375/21343
Title: | Leaders and Followers Among Security Analysts |
Authors: | Wang, Li |
Advisor: | Veall, Mike Kanagaretnam, K. |
Department: | Statistics |
Keywords: | leaders, followers, security analysts, attributes, discriminant analysis, logistic regression model |
Publication Date: | May-2006 |
Abstract: | <p> We developed and tested procedures to rank the performance of security analysts according to the timeliness of their earning forecasts. We compared leaders and followers among analysts on various performance attributes, such as accuracy, boldness, experience, brokerage size and so on. We also use discriminant analysis and logistic regression model to examine what attributes have an effect on the classification. Further, we examined whether the timeliness of forecasts is related to their impact on stock prices. We found that the lead analysts identified by the measure of forecast timeliness have a greater impact on stock price than follower analysts. Our initial sample includes all firms on the Institutional Brokers Estimate System (I/B/E/S) database and security return data on the daily CRSP file for the years 1994 through 2003.</p> |
URI: | http://hdl.handle.net/11375/21343 |
Appears in Collections: | Digitized Open Access Dissertations and Theses |
Files in This Item:
File | Description | Size | Format | |
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Wang_Li_2006May_Masters..pdf | 1.88 MB | Adobe PDF | View/Open |
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