The behavioral basis of sell-side analysts’ herding
Sell-side analysts move away from the prevailing consensus as their confidence increases. As their confidence falls, they herd toward the prevailing consensus. Confidence as well as the associated propensity to move away from the herd increase as firms become more difficult to analyze. This behavior...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
Elsevier Ltd
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/37768 |
| _version_ | 1848755138742714368 |
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| author | Durand, Robert Limkriangkrai, M. Fung, L. |
| author_facet | Durand, Robert Limkriangkrai, M. Fung, L. |
| author_sort | Durand, Robert |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Sell-side analysts move away from the prevailing consensus as their confidence increases. As their confidence falls, they herd toward the prevailing consensus. Confidence as well as the associated propensity to move away from the herd increase as firms become more difficult to analyze. This behavior is consistent with such analysts having lower meta-cognitive skills. |
| first_indexed | 2025-11-14T08:51:33Z |
| format | Journal Article |
| id | curtin-20.500.11937-37768 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T08:51:33Z |
| publishDate | 2014 |
| publisher | Elsevier Ltd |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-377682017-09-13T14:28:06Z The behavioral basis of sell-side analysts’ herding Durand, Robert Limkriangkrai, M. Fung, L. Confidence Meta-cognition Sell-side analysts Behavioral finance Sell-side analysts move away from the prevailing consensus as their confidence increases. As their confidence falls, they herd toward the prevailing consensus. Confidence as well as the associated propensity to move away from the herd increase as firms become more difficult to analyze. This behavior is consistent with such analysts having lower meta-cognitive skills. 2014 Journal Article http://hdl.handle.net/20.500.11937/37768 10.1016/j.jcae.2014.08.001 Elsevier Ltd restricted |
| spellingShingle | Confidence Meta-cognition Sell-side analysts Behavioral finance Durand, Robert Limkriangkrai, M. Fung, L. The behavioral basis of sell-side analysts’ herding |
| title | The behavioral basis of sell-side analysts’ herding |
| title_full | The behavioral basis of sell-side analysts’ herding |
| title_fullStr | The behavioral basis of sell-side analysts’ herding |
| title_full_unstemmed | The behavioral basis of sell-side analysts’ herding |
| title_short | The behavioral basis of sell-side analysts’ herding |
| title_sort | behavioral basis of sell-side analysts’ herding |
| topic | Confidence Meta-cognition Sell-side analysts Behavioral finance |
| url | http://hdl.handle.net/20.500.11937/37768 |