This paper investigates the stock characteristic preferences of active Australian equity managers. We examine the following characteristics: stock price variance, momentum, size, transaction costs, earnings yield, analyst coverage and the standard deviation of analyst forecasts. In aggregate we find that active managers exhibit preferences for stocks exhibiting high price variance, large market...

Analyst research helps prices reflect information about a security’s fundamentals. However, analysts’ private incentives potentially contribute to misleading research and it is possible that the market fixates on such misleading and/or optimistic reports. We examine cross-sectional determinants of the informativeness of analyst reports, i.e., their effect on security prices, controlling for end...

This paper quantifies the amount of noise and bias in analysts’ forecast corporate earnings at various horizons. We first show analyst forecasts outperform statistical short-horizons, but underperform longer next decompose relative accuracy these into three components: (i) noise, (ii) (iii) information advantage over forecasts. find is constant across forecasting horizons, while both are increa...

This study aims to determine whether provitability is able moderate the relationship of liquidity and growth value company. The company a that reflects credibility in eyes public, especially investors prospective investors. sample this research 58. uses multiple analyst regressions data analyst. results showed had negative effect on firm value. Profitability moderates

In many applications, an anomaly detection system presents the most anomalous data instance to a human analyst, who then must determine whether the instance is truly of interest (e.g. a threat in a security setting). Unfortunately, most anomaly detectors provide no explanation about why an instance was considered anomalous, leaving the analyst with no guidance about where to begin the investiga...