Target Price Optimism, Investor Sentiment, and the Informativeness of Target Prices

2019 ◽  
Author(s):  
Markus Buxbaum ◽  
Wolfgang Schultze ◽  
Samuel L. Tiras
Keyword(s):  
Investor Sentiment ◽  
Target Price

Target price forecasts: The roles of the 52‐week high price and recent investor sentiment

2020 ◽  
Vol 47 (9-10) ◽  
pp. 1365-1399
Author(s):  
Peter Clarkson ◽  
Alexander Nekrasov ◽  
Andreas Simon ◽  
Irene Tutticci
Keyword(s):  
Investor Sentiment ◽  
High Price ◽  
Target Price

Rationality of Stock Splits: The Target-Price Habit Hypothesis

CFA Digest ◽  
2000 ◽  
Vol 30 (3) ◽  
pp. 87-89
Author(s):  
Rajiv Kalra
Keyword(s):  
Stock Splits ◽  
Target Price

The Effect of Underreaction and Overreaction of Firm Stocks to Firm Valuation: Data from the Indonesian Stock Exchange

2019 ◽  
Author(s):  
Yohanes Indrayono
Keyword(s):  
Behavioral Finance ◽  
Firm Value ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Investor Sentiment ◽  
Firm Valuation ◽  
Good News ◽  
Industrial Sectors ◽  
Tangible Assets ◽  
Firm Profitability

<p>This study contributes to the on-going studies on behavioral finance by providing a case study on underreaction and overreaction of firm stocks to firm valuation. We use the Model of Investor Sentiment (Barberis et al., 2005) to evaluate underreaction and overreaction behavior and reflect on specific findings in the Indonesian market. The result of the study is most of the stocks in the Indonesian Stock Exchange are more overreaction to the news of firm financial statements. Firms on the industry with more intangible assets measure more overreaction than firms on industries with more tangible assets. For stocks with overreaction, the stock firm value is positively affected by a change in the total assets and profitability, but not by change of book value. The result concretized no evidence that firm stocks overreacted to the news more than underreacting. In stock industrial sectors, the financial institutions and wholesale industry stocks demonstrated remarkable overreactions. Nonetheless, automotive, building construction, food and beverage as well as cement evidenced more underreaction. For better return in financial markets, investors may buy stocks of the firm on industry with more tangible assets when there is no good news about the increasing firm profitability and sales; nonetheless, they should buy stocks of the firm on industry with more intangible assets when there is no lousy news about the increasing firm profitability and sales. </p>

Do Managers Use Pro Forma Earnings Disclosures to Cater to Investor Sentiment?*

2008 ◽  
Author(s):  
Nerissa C. Brown ◽  
Theodore E. Christensen ◽  
W. Brooke Elliott ◽  
Richard Dean Mergenthaler
Keyword(s):  
Investor Sentiment ◽  
Pro Forma Earnings ◽  
Earnings Disclosures ◽  
Pro Forma

Investor Sentiment and Value and Growth Index Options

2011 ◽  
Author(s):  
Jerry Coakley ◽  
George Dotsis ◽  
Xiaoquan Liu ◽  
Jia Zhai
Keyword(s):  
Investor Sentiment ◽  
Growth Index ◽  
Index Options

Target Price Forecasts: Fundamentals and Behavioral Factors

2012 ◽  
Author(s):  
Peter Clarkson ◽  
Alexander Nekrasov ◽  
Andreas Simon ◽  
Irene Tutticci
Keyword(s):  
Behavioral Factors ◽  
Target Price
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