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Published in 2017 at "Review of Quantitative Finance and Accounting"
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…
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Keywords:
information;
information environment;
herding behavior;
firms information ... See more keywords