Market versus Analysts Reaction: the Effect of Aggregate and Firm Specific News

Becchetti LeonardoCiciretti RoccoBagella Michele
CEIS Working Papers
The paper investigates the stability of stock markets by exploring how specific and aggregate shocks generate reassessment of investors and analysts expectations on earnings forecasts and on the fundamental value of equities. In this paper we evaluate the
Number: 211
Date: Saturday, January 1, 2005
Revision Date: Saturday, January 1, 2005