ISSN 2394-5125
 

Review Article 


THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary.

Abstract
Predicting stock returns and securities pricing has always been one of the most important issues for financial marketers. The information provided by managers in corporate financial statements helps investors make optimal decisions, the value of this information depends on their accuracy, the biases of managers misrepresent the information, and cause inaccurate forecasts and thus decision making. It goes wrong. Choosing to invest regardless of managers' bias leads to wasted resources and incorrect decision making. The purpose of the present study is to study the impact of managers' expectations on the stock returns. In this study, stock returns were calculated using Fama and French three-factor model. Research hypotheses were tested using data from 178 companies over a 7-year period from 2011 to 2018 using multivariate regression and combined data. According to the results of the statistical analysis, there is a significant relationship between the expectations of managers and the stock return at 95% confidence level.

Key words: managers ' expectations stickiness, profit forecasting error, forecast revision, Fama and French three-factor model.


 
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How to Cite this Article
Pubmed Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary. THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS. JCR. 2020; 7(4): 452-457. doi:10.31838/jcr.07.04.88


Web Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary. THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS. http://www.jcreview.com/?mno=94698 [Access: April 10, 2021]. doi:10.31838/jcr.07.04.88


AMA (American Medical Association) Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary. THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS. JCR. 2020; 7(4): 452-457. doi:10.31838/jcr.07.04.88



Vancouver/ICMJE Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary. THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS. JCR. (2020), [cited April 10, 2021]; 7(4): 452-457. doi:10.31838/jcr.07.04.88



Harvard Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary (2020) THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS. JCR, 7 (4), 452-457. doi:10.31838/jcr.07.04.88



Turabian Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary. 2020. THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS. Journal of Critical Reviews, 7 (4), 452-457. doi:10.31838/jcr.07.04.88



Chicago Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary. "THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS." Journal of Critical Reviews 7 (2020), 452-457. doi:10.31838/jcr.07.04.88



MLA (The Modern Language Association) Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary. "THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS." Journal of Critical Reviews 7.4 (2020), 452-457. Print. doi:10.31838/jcr.07.04.88



APA (American Psychological Association) Style

Nahid Mohammadi, Mehdi Baharmoghadam, Omid Pourheidary (2020) THE IMPACT OF MANAGERS EXPECTATIONS STICKINESS ON FUTURE STOCK RETURNS. Journal of Critical Reviews, 7 (4), 452-457. doi:10.31838/jcr.07.04.88