Herding Behavior: Page 1 Behavioral Research in Accounting Volume 9, 1997 Printed in USA
(y / し% Herding Behavior: Explanations and Implications Jane M. Cote Debra L. sanders …

Monthly returns to firms with optimistic expectations are 1.5% lower versus firms with
pessimistic expectations, while annual buy-and-hold returns to firms with optimistic …

To add to our understanding of the market performance of firms after the announcement of
negative earnings, we investigate the differences in security research analyst forecasts for …

This paper incorporates recent equity valuation theories into the examination of
determinants of earnings‐price (E/P) ratios to explain cross‐sectional differences in E/P …

This paper is a brief survey of systematic violations of security market efficiencies in the US,
Japan and other world wide equity markets. These security market regulatories or anomalies …

Extant literature provides conflicting results with respect to the usefulness and accuracy of
analysts' operating cash flow forecasts. Our study empirically examines the importance and …

Liquidity management is undoubtedly one of the most crucial aspects of financial
management since an efficient and effective liquidity management is crucial if the survival …

Current economic events surrounding corporate attempts to mislead the public have
motivated calls for reporting transparency. New reporting regulations and executive …

Rationality in financial markets implies that investors correctly use all available information
in establishing security prices (Fama, 1970). In terms of this definition researchers …

Consistent with economic intuition and the intuition behind momentum strategies for market
timing and sector rotation based on accrual earnings (AE), we find persistence in AE growth …