                                                    633

13.         -
    ,     :

Richard J. Rendleman, Jr., Charles P. Jones, and Henry A. Latane, Further Insight into

the Standardized Unexpected Earnings Anomaly: Size and Serial Correlation Effects,

Financial Review, 22, no. 1 (February 1987), pp. 131144.

Victor L. Bernard and Jacob K. Thomas, Post-Earnings-Announcement Drift: Delayed Price

Response or Risk Premium?, Journal of Accounting Research, 27 (Supplement 1989), pp. 1-36.

Robert N. Freeman and Senyo Tse, The Multiperiod Information Content of Accounting

Earnings: Confirmations and Contradictions of Previous Earnings Reports, Journal of

Accounting Research, 27 (Supplement 1989), pp. 49-79.

Victor L. Bernard and Jacob K. Thomas, Evidence That Stock Prices Do Not Fully Reflect

the Implications of Current Earnings for Future Earnings, Journal of Accounting and

Economics, 13, no. 4 (December 1990), pp. 305-340.

Richard R. Mendenhall, Evidence on the Possible Underweighting of Earnings-Related

Information, Journal of Accounting Research, 29, no. 1 (Spring 1991), pp. 170-179.

Ray Ball, The Earnings-Price Anomaly, Journal of Accounting and Economics, 15, no. 2/3

(June/September 1992), pp. 319-345.

Jeffery S. Abarbanell and Victor L. Bernard, Tests of Analysts' Overreaction/Underreaction

to Earnings Information as and Explanation for Anomalous Stock Price Behavior, Journal

of Finance, 47, no. 3 (July 1992), pp. 1181-1207.

14.       -
    . .   :

Lawrence D. Brown and Michael S. Rozeff, The Superiority of Analyst Forecasts as

Measures of Expectations: Evidence from Earnings, Journal of Finance, 33, no. 1 (March

1978), pp. 1-16.

Lawrence D. Brown and Michael S. Rozeff, Analysts Can Forecast Accurately!, Journal

of Portfolio Management, 6, no. 3 (Spring 1980), pp. 31-34.

John G. Cragg and Burton G. Malkiel, Expectations and the Structure of Share Prices (Chicago:

University of Chicago Press, 1982), particularly pp. 85-86 and 165.

Dan Givoly and Josef Lakonishok, Properties of Analysts' Forecasts of Earnings:

A Review and Analysis of the Research, Journal of Accounting Literature, 3 (Spring 1984),

pp. 117-152.

Dan Givoly and Josef Lakonishok, The Quality of Analysts' Forecasts of Earnings, Financial

Analysts Journal, 40, no. 5 (September/October 1984), pp. 40-47.

Philip Brown, George foster, and Eric Noreen, Security Analyst Multi-Year Earnings Forecasts

and the Capital Markets (Sarasota, FL: American Accounting Association, 1985).

John M. Hassell and Robert H. Jennings, Relative Forecast Accuracy and the Timing of

Earnings forecast Announcements, Accounting Review, 61, no. 1 (January 1986), pp. 5875.

Gary A. Benesh and Pamela P. Peterson, On the Relation Between Earnings Changes,

Analysts' Forecasts and Stock Price Fluctuations, Financial Analysts Journal, 42, no. 6

(November/December 1986), pp. 29-39, 55.

Lawrence D. Brown, Robert L. Hagerman, Paul A. Griffin, and Mark Zmijewski, Security

Analyst Superiority Relative to Univariate Time-Series Models in Forecasting Quarterly

Earnings, Journal of Accounting and Economics, 9, no. 1 (April 1987), pp. 61-87.

Robert Conroy and Robert Harris, Consensus Forecasts of Corporate Earnings: Analysts'

Forecasts and Time-Series Methods, Management Science, 33, no. 6 (June 1987),

pp. 725-738.

Lawrence D. Brown, Robert L. Hagerman, Paul A. Griffin, and Mark Zmijewski, An

Evaluation of Alternative Proxies for the Market's Assessment of Unexpected Earnings,

Journal of Accounting and Economics, 9, no. 2 (July 1987), pp. 159193.