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  • 18 Oct 2004
  • Research & Ideas

The Bias of Wall Street Analysts

significant, but not economically significant. For example, one study found that the difference between affiliated and unaffiliated analysts' forecasts of earnings growth was statistically significant, but... View Details
Keywords: by Ann Cullen; Financial Services
  • Web

Strategic Financial Analysis Online Course | HBS Online

success. 8 weeks 5-6 hours per week 6 modules Self-Paced This course earns you a Certificate of Completion from HBS Online. What you earn . Overview Syllabus Enrollment Stories FAQs Enroll Now Key Concepts... View Details
  • Web

Business Analysis and Valuation Using Financial Statements - Course Catalog

accounting distortions. Performance analysis and valuation: assessing current performance and its future sustainability; making forecasts of future profitability and risk; and valuing businesses using View Details
  • 29 Aug 2006
  • First Look

First Look: August 29, 2006

datasets) is positively correlated with dispersion among experts' forecasts. Further we use longitudinal datasets with sales forecasts made three-nine months before earnings report date for retailers and... View Details
Keywords: Sean Silverthorne
  • 07 Jul 2009
  • First Look

First Look: July 7

Missing Quarterly Analysts Forecasts (revised) Authors:Richard Mergenthaler, Shiva Rajgopal, and Suraj Srinivasan Abstract We find that missing the quarterly analyst consensus earnings View Details
Keywords: Martha Lagace
  • 27 Mar 2018
  • First Look

First Look at New Research, March 27, 2018

sell-side analysts employed at state-owned brokerages issued relatively optimistic earnings forecasts and stock recommendations during these periods. This relative optimism is particularly pronounced in... View Details
Keywords: Sean Silverthorne
  • 08 Jan 2008
  • First Look

First Look: January 8, 2008

and sales for our datasets) is positively correlated with both dispersion among experts' forecasts and scale: the variance increases sublinearly with dispersion and more than linearly with scale. Further, we use longitudinal datasets with... View Details
Keywords: Martha Lagace
  • 25 Nov 2008
  • First Look

First Look: November 25, 2008

buys significantly outperform its recent sells around subsequent earnings announcements. We find that mutual fund trades also forecast EPS surprises. The point estimates suggest that skilled trading around... View Details
Keywords: Martha Lagace
  • Web

Frank Batten | Baker Library | Bloomberg Center | Harvard Business School

(PDF) Frank Batten, HBS 1952, started his career in his uncle’s newspaper business. He later earned his spurs—and a Pulitzer—for championing desegregation. Frank discovered that many people purchased newspapers primarily to read the... View Details
  • 23 Oct 2019
  • News

Exploring Big Issues at the Intersection of Business and Society

Professor Joseph Fuller looked beyond dystopian forecasts to explore how ever-evolving technology has the potential to improve the quality of work lives, the earnings of most workers, and company... View Details
Keywords: Educational Innovation
  • 28 May 2013
  • Research & Ideas

Can LEGO Snap Together a Future in Asia?

colossal tumble. A recapitalization of the company led to a fairy-tale rebound as the group returned to selling its core building sets. LEGO earned $1.0 billion as sales approached $3.5 billion in 2011, and in 2012, it overtook Hasbro as... View Details
Keywords: by Kim Girard; Entertainment & Recreation
  • 24 Jan 2017
  • First Look

First Look at New Research: January 24, 2017

earnings patterns. Firms with historically larger earnings in one quarter of the year (“positive seasonality quarters”) have higher returns when those earnings are usually... View Details
Keywords: Sean Silverthorne
  • 12 Jul 2010
  • Research & Ideas

Rocket Science Retailing: A Practical Guide

do managers forecast total revenue? You can get a sense of that from looking at investment analysts' forecasts. While it is true that managers have information that analysts lack, analysts' estimates and management's guidance on View Details
Keywords: by Martha Lagace; Retail; Auto
  • 11 Apr 2017
  • First Look

First Look at New Research, April 11

banking analysts issue early in the year relatively more optimistic and later in the year more pessimistic forecasts for banks that could be their future employers. This pattern is not observed when the same analysts View Details
  • 05 Nov 2012
  • Research & Ideas

What Wall Street Doesn’t Understand About International Trade

'non-strategic traders,' " Cohen says. Historically, Wall Street has failed to consider the local ethnic population trading strategy when assessing the value of a firm. In fact, the researchers found that analysts are significantly less accurate in their View Details
Keywords: by Carmen Nobel
  • 19 Oct 2010
  • First Look

First Look: October 19, 2010

Working PapersValuation when Cash Flow Forecasts Are Biased Author:Richard S. Ruback Abstract This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are... View Details
Keywords: Sean Silverthorne
  • 20 Feb 2007
  • First Look

First Look: February 20, 2007

(forthcoming) Abstract Abarbanell and Lehavy (2006) examine the effect of distributional properties of earnings and forecast data used by researchers who investigate 'Street' earnings. They perform a large... View Details
Keywords: Martha Lagace
  • 26 Jun 2007
  • First Look

First Look: June 26, 2007

increases US investors' equity FPI holdings by 21%, controlling for effects on FDI. This suggests that the residual tax on foreign multinational firm earnings biases capital flows to low corporate tax countries toward FPI. A one standard... View Details
Keywords: Martha Lagace
  • 28 Sep 2010
  • First Look

First Look: September 28, 2010

document that the improvement in the information environment is driven both by information and comparability effects. These results are robust to variations in the measurement of information environment quality, forecast horizon, sample... View Details
Keywords: Sean Silverthorne
  • Fast Answer

Field Course: Private Equity Projects and Ecosystems: Company, Industry, Market and Transaction Research

trend and forecast coverage across 10 major commercial real estate sectors, 275+ markets, and 3,000+ submarkets. Includes market transactions and performance trends. FactSet
A comprehensive platform used to analyze financial data... View Details