Informes de renta variable y los precios de las acciones

Autores:
Astaiza Gómez, José Gabriel
Pérez Pacheco, Camilo Andrés
Tipo de recurso:
Article of journal
Fecha de publicación:
2022
Institución:
Universidad Pedagógica y Tecnológica de Colombia
Repositorio:
RiUPTC: Repositorio Institucional UPTC
Idioma:
OAI Identifier:
oai:repositorio.uptc.edu.co:001/18622
Acceso en línea:
https://repositorio.uptc.edu.co/handle/001/18622
https://doi.org/10.19053/01203053.v41.n73.2022.12638
Palabra clave:
sell-side analysts
intrinsic value
trading incentives
informational value
analistas sell-side
valor intrínseco
incentivos de trading
valor informacional
Rights
openAccess
License
José Gabriel Astaiza Gómez, Camilo Andrés Perez Pacheco - 2022
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dc.title.es-ES.fl_str_mv Informes de renta variable y los precios de las acciones
title Informes de renta variable y los precios de las acciones
spellingShingle Informes de renta variable y los precios de las acciones
sell-side analysts
intrinsic value
trading incentives
informational value
analistas sell-side
valor intrínseco
incentivos de trading
valor informacional
title_short Informes de renta variable y los precios de las acciones
title_full Informes de renta variable y los precios de las acciones
title_fullStr Informes de renta variable y los precios de las acciones
title_full_unstemmed Informes de renta variable y los precios de las acciones
title_sort Informes de renta variable y los precios de las acciones
dc.creator.fl_str_mv Astaiza Gómez, José Gabriel
Pérez Pacheco, Camilo Andrés
dc.contributor.author.none.fl_str_mv Astaiza Gómez, José Gabriel
Pérez Pacheco, Camilo Andrés
dc.subject.none.fl_str_mv sell-side analysts
intrinsic value
trading incentives
informational value
analistas sell-side
valor intrínseco
incentivos de trading
valor informacional
topic sell-side analysts
intrinsic value
trading incentives
informational value
analistas sell-side
valor intrínseco
incentivos de trading
valor informacional
publishDate 2022
dc.date.accessioned.none.fl_str_mv 2022-02-22 00:00:00
2026-04-16T17:10:28Z
dc.date.available.none.fl_str_mv 2022-02-22 00:00:00
dc.date.issued.none.fl_str_mv 2022-02-22
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https://doi.org/10.19053/01203053.v41.n73.2022.12638
dc.language.iso.none.fl_str_mv
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dc.relation.references.none.fl_str_mv Abreu, D., & Brunnermeier, M. K. (2003). Bubbles and crashes. Econometrica, 71(1), 173-204. https://doi.org/10.1111/1468-0262.00393
Allen, F., Morris, S., & Postlewaite, A. (1993). Finite Bubbles with Short Sale Constraints and Asymmetric Information. J. Econ. Theory, 61(2), 206-229. https://doi.org/10.1006/jeth.1993.1067
Budescu, D. V., & Budescu, M. (2012). How to Measure Diversity When You Must. Psychological Methods, 17(2), 215. https://doi.org/10.1037/a0027129
Cheng, Y, Liu, M. H. & Qian, J. (2006). Buy-Side Analysts, Sell-Side Analysts, and Investment Decisions of Money Managers. The Journal of Financial and Quantitative Analysis, 41(1), 51-83. https://doi.org/10.1017/S0022109000002428
Cowen, A., Groysberg, B., & Healy, P. (2006). Which Types of Analyst Firms Are More Optimistic? Journal of Accounting and Economics, 41(1-2), 119-146. https://doi.org/10.1016/j.jacceco.2005.09.001
De Long, J. B., Shleifer, A., Summers, L. H., & Waldmann, R. J. (1990). Positive Feedback Investment Strategies and Destabilizing Rational Speculation. The Journal of Finance, 45(2), 379-395. https://doi.org/10.1111/j.1540-6261.1990.tb03695.x https://doi.org/10.2307/2328662
Easterwood, J. C., & Nutt, S. R. (1999). Inefficiency in analysts' earnings forecasts: Systematic misreaction or systematic optimism? The Journal of Finance, 54(5), 1777-1797. https://doi.org/10.1111/0022-1082.00166
Francis, J. & Soffer, L. (1997). The Relative Informativeness of Analysts' Stock Recommendations and Earnings Forecast Revisions. Journal of Accounting Research, 35(2), 193-211. https://doi.org/10.2307/2491360
Hilary, G., & Hsu, C. (2013). Analyst Forecast Consistency. The Journal of Finance, 68(1), 271-297. https://doi.org/10.1111/j.1540-6261.2012.01800.x
Howe, J. S., Unlu, E. & Yan, X. (2009). The Predictive Content of Aggregate Analyst Recommendations. Journal of Accounting Research, 47(3), 799 - 821. https://doi.org/10.1111/j.1475-679X.2009.00337.x
Im K.S, Pesaran M.H. & Shin Y. (2003). Testing for Unit Roots in Heterogeneous Panels. Journal of Econometrics, 115(1), 53-74. https://doi.org/10.1016/S0304-4076(03)00092-7
Jackson, A. R. (2005). Trade generation, reputation, and sell‐side analysts. The Journal of Finance, 60(2), 673-717. https://doi.org/10.1111/j.1540-6261.2005.00743.x
Jegadeesh, N, Kim, J., Krische, S. D. & Lee, C. (2004). Analyzing the Analysts: When Do Recommendations Add Value? The Journal of Finance, 59(3), 1083-1124. https://doi.org/10.1111/j.1540-6261.2004.00657.x
Joos, P., Piotroski, J.D., & Srinivasan, S. (2016). Can Analysts Assess Fundamental Risk and Valuation Uncertainty? An Empirical Analysis of Scenario-Based Value Estimates. Journal of Financial Economics, 121, 645-663. https://doi.org/10.1016/j.jfineco.2016.05.003
Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties. Journal of Econometrics, 108(1), 1-24. https://doi.org/10.1016/S0304-4076(01)00098-7
Li, X., Feng, H., Yan, S., & Wang, H. (2021). Dispersion in Analysts' Target Prices and Stock Returns. The North American Journal of Economics and Finance, 56, 101385. https://doi.org/10.1016/j.najef.2021.101385
Malmendier, U., & Shanthikumar, D. (2014). Do Security Analysts Speak in Two Tongues? The Review of Financial Studies, 27(5), 1287-1322. https://doi.org/10.1093/rfs/hhu009
Mikhail, M. B., Walther, B. R., & Willis, R. H. (2007). When Security Analysts Talk, Who Listens? The Accounting Review, 82(5), 1227-1253. https://doi.org/10.2308/accr.2007.82.5.1227
Stickel, S. E. (1992). Reputation and Performance Among Security Analysts. The Journal of Finance, 47(5), 1811-1836. https://doi.org/10.1111/j.1540-6261.1992.tb04684.x
U.S. Department of Labor. (2016-17). Occupational Outlook Handbook, Financial Analysts. Bureau of Labor Statistics.
Womack, K. L. (1996). Do Brokerage Analysts' Recommendations Have Investment Value? The Journal of Finance, 51(1), 137-167. https://doi.org/10.1111/j.1540-6261.1996.tb05205.x
Zhang, M. & Zheng, J. (2017). A Robust Reference-Dependent Model for Speculative Bubbles. Journal of Economic Behavior & Organization, 137, 232-258. https://doi.org/10.1016/j.jebo.2017.03.015
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dc.relation.ispartofjournal.eng.fl_str_mv Apuntes del Cenes
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dc.relation.citationedition.eng.fl_str_mv Núm. 73 , Año 2022 : Vol. 41 Núm. 73 (2022)
dc.rights.none.fl_str_mv José Gabriel Astaiza Gómez, Camilo Andrés Perez Pacheco - 2022
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spelling Astaiza Gómez, José GabrielPérez Pacheco, Camilo Andrés2022-02-22 00:00:002026-04-16T17:10:28Z2022-02-22 00:00:002022-02-220120-3053https://repositorio.uptc.edu.co/handle/001/1862210.19053/01203053.v41.n73.2022.126382256-5779https://doi.org/10.19053/01203053.v41.n73.2022.12638application/pdftext/htmltext/xmlUniversidad Pedagógica y Tecnológica de ColombiaJosé Gabriel Astaiza Gómez, Camilo Andrés Perez Pacheco - 2022http://creativecommons.org/licenses/by-nc-sa/4.0info:eu-repo/semantics/openAccessThis work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.http://purl.org/coar/access_right/c_abf2https://revistas.uptc.edu.co/index.php/cenes/article/view/12638sell-side analystsintrinsic valuetrading incentivesinformational valueanalistas sell-sidevalor intrínsecoincentivos de tradingvalor informacionalInformes de renta variable y los precios de las accionesArtículo de revistahttp://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1info:eu-repo/semantics/articleJournal articleinfo:eu-repo/semantics/publishedVersionTexthttp://purl.org/coar/version/c_970fb48d4fbd8a85Abreu, D., & Brunnermeier, M. K. (2003). Bubbles and crashes. Econometrica, 71(1), 173-204. https://doi.org/10.1111/1468-0262.00393Allen, F., Morris, S., & Postlewaite, A. (1993). Finite Bubbles with Short Sale Constraints and Asymmetric Information. J. Econ. Theory, 61(2), 206-229. https://doi.org/10.1006/jeth.1993.1067Budescu, D. V., & Budescu, M. (2012). How to Measure Diversity When You Must. Psychological Methods, 17(2), 215. https://doi.org/10.1037/a0027129Cheng, Y, Liu, M. H. & Qian, J. (2006). Buy-Side Analysts, Sell-Side Analysts, and Investment Decisions of Money Managers. The Journal of Financial and Quantitative Analysis, 41(1), 51-83. https://doi.org/10.1017/S0022109000002428Cowen, A., Groysberg, B., & Healy, P. (2006). Which Types of Analyst Firms Are More Optimistic? Journal of Accounting and Economics, 41(1-2), 119-146. https://doi.org/10.1016/j.jacceco.2005.09.001De Long, J. B., Shleifer, A., Summers, L. H., & Waldmann, R. J. (1990). Positive Feedback Investment Strategies and Destabilizing Rational Speculation. The Journal of Finance, 45(2), 379-395. https://doi.org/10.1111/j.1540-6261.1990.tb03695.x https://doi.org/10.2307/2328662Easterwood, J. C., & Nutt, S. R. (1999). Inefficiency in analysts' earnings forecasts: Systematic misreaction or systematic optimism? The Journal of Finance, 54(5), 1777-1797. https://doi.org/10.1111/0022-1082.00166Francis, J. & Soffer, L. (1997). The Relative Informativeness of Analysts' Stock Recommendations and Earnings Forecast Revisions. Journal of Accounting Research, 35(2), 193-211. https://doi.org/10.2307/2491360Hilary, G., & Hsu, C. (2013). Analyst Forecast Consistency. The Journal of Finance, 68(1), 271-297. https://doi.org/10.1111/j.1540-6261.2012.01800.xHowe, J. S., Unlu, E. & Yan, X. (2009). The Predictive Content of Aggregate Analyst Recommendations. Journal of Accounting Research, 47(3), 799 - 821. https://doi.org/10.1111/j.1475-679X.2009.00337.xIm K.S, Pesaran M.H. & Shin Y. (2003). Testing for Unit Roots in Heterogeneous Panels. Journal of Econometrics, 115(1), 53-74. https://doi.org/10.1016/S0304-4076(03)00092-7Jackson, A. R. (2005). Trade generation, reputation, and sell‐side analysts. The Journal of Finance, 60(2), 673-717. https://doi.org/10.1111/j.1540-6261.2005.00743.xJegadeesh, N, Kim, J., Krische, S. D. & Lee, C. (2004). Analyzing the Analysts: When Do Recommendations Add Value? The Journal of Finance, 59(3), 1083-1124. https://doi.org/10.1111/j.1540-6261.2004.00657.xJoos, P., Piotroski, J.D., & Srinivasan, S. (2016). Can Analysts Assess Fundamental Risk and Valuation Uncertainty? An Empirical Analysis of Scenario-Based Value Estimates. Journal of Financial Economics, 121, 645-663. https://doi.org/10.1016/j.jfineco.2016.05.003Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties. Journal of Econometrics, 108(1), 1-24. https://doi.org/10.1016/S0304-4076(01)00098-7Li, X., Feng, H., Yan, S., & Wang, H. (2021). Dispersion in Analysts' Target Prices and Stock Returns. The North American Journal of Economics and Finance, 56, 101385. https://doi.org/10.1016/j.najef.2021.101385Malmendier, U., & Shanthikumar, D. (2014). Do Security Analysts Speak in Two Tongues? The Review of Financial Studies, 27(5), 1287-1322. https://doi.org/10.1093/rfs/hhu009Mikhail, M. B., Walther, B. R., & Willis, R. H. (2007). When Security Analysts Talk, Who Listens? The Accounting Review, 82(5), 1227-1253. https://doi.org/10.2308/accr.2007.82.5.1227Stickel, S. E. (1992). Reputation and Performance Among Security Analysts. The Journal of Finance, 47(5), 1811-1836. https://doi.org/10.1111/j.1540-6261.1992.tb04684.xU.S. Department of Labor. (2016-17). Occupational Outlook Handbook, Financial Analysts. Bureau of Labor Statistics.Womack, K. L. (1996). Do Brokerage Analysts' Recommendations Have Investment Value? The Journal of Finance, 51(1), 137-167. https://doi.org/10.1111/j.1540-6261.1996.tb05205.xZhang, M. & Zheng, J. (2017). A Robust Reference-Dependent Model for Speculative Bubbles. Journal of Economic Behavior & Organization, 137, 232-258. https://doi.org/10.1016/j.jebo.2017.03.01562734341Apuntes del Ceneshttps://revistas.uptc.edu.co/index.php/cenes/article/download/12638/11457https://revistas.uptc.edu.co/index.php/cenes/article/download/12638/15258https://revistas.uptc.edu.co/index.php/cenes/article/download/12638/13356Núm. 73 , Año 2022 : Vol. 41 Núm. 73 (2022)PublicationOREORE.xmltext/xml2557https://repositorio.uptc.edu.co/bitstreams/529701f1-6f3c-4990-8dc0-6bb0f50e457a/download79f48af90e0bafd422a90f80b792c2a2MD51falseAnonymousREAD001/18622oai:repositorio.uptc.edu.co:001/186222026-10-30 06:54:14.356http://creativecommons.org/licenses/by-nc-sa/4.0metadata.onlyhttps://repositorio.uptc.edu.coRepositorio Institucional UPTCbdigital@metabiblioteca.com