The information content of financial analysts' forecasts of earnings: Some evidence on semi-strong inefficiency
作者： Dan Givoly , Josef Lakonishok
DOI: 10.1016/0165-4101(79)90006-5
关键词:
摘要: Abstract The paper assesses the information content of revisions in financial analysts' forecasts earnings by analyzing relation between direction these and stock price behavior. Abnormal returns during months surrounding are computed evaluated. results strongly indicate that on per share is valuable to investors. It also suggested market reaction disclosure relatively slow gives rise potential abnormal investors who act upon this type publicly available information.
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