The effects of firms’ information environment on analysts’ herding behavior
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DOI: 10.1007/s11156-016-0559-z
Abstract: We find financial analysts herd to a greater degree in firms with more opaque information environments as measured by the incidence of short-term institutional investors present. The S-statistic, a measure of forecast bias, and forecast… read more here.
Keywords: information; information environment; herding behavior; firms information ... See more keywords