We study the presence of aggregate herding in the Indian stock market and examine
whether herding propensity qualifies to be a priced-risk factor for cross-sections of stocks …

Financial analysts tend to demonstrate herding behavior, which sometimes compromises
accuracy. A number of explanations spanning rational economic logic, cognitive biases, and …

This paper demonstrates the importance of considering incorrect perceptions of variance in
characterizing people's belief formation rules when they suffer from correlation neglect …

This paper provides evidence of confirmation bias by sell-side analysts in their earnings
forecasts. We show that analysts tend to put higher weight on public information when the …

Each person's characteristics may influence that person's behaviors and outcomes. This
study builds and uses a new database to estimate experts' performance and boldness …

We examine the effect of school ties between sell-side analysts and media executives on the
improvement in analysts' performance during the release of informative negative news. Our …

Organizations are increasingly implementing algorithmic decision aids to advise managerial
decision‐making. We study managers' motives behind using advice (human and …

This study is based on the premise that firms pursuing unique corporate strategies impose a
high information cost on security analysts. A difficult information environment will foster …

Analysts' observable careers are short. Around half of the analysts we study have
observable lives of approximately three years. Using the IBES database as a proxy for the …

The present research is conducted to determine the relationship between behavioural
biases and investors' rationality in the Indian equity market. The study has followed the …