M
Michael T. Cliff
Researcher at Analysis Group
Publications - 18
Citations - 3581
Michael T. Cliff is an academic researcher from Analysis Group. The author has contributed to research in topics: Stock market & Initial public offering. The author has an hindex of 13, co-authored 18 publications receiving 3199 citations. Previous affiliations of Michael T. Cliff include Virginia Tech & Saint Petersburg State University.
Papers
More filters
Journal ArticleDOI
Investor Sentiment and the Near-Term Stock Market
TL;DR: In this article, the authors investigate investor sentiment and its relation to near-term stock market returns and find that many commonly-cited indirect measures of sentiment are related to direct measures of investor sentiment.
Journal ArticleDOI
Investor sentiment and the near-term stock market
TL;DR: In this paper, the authors investigate investor sentiment and its relation to near-term stock market returns and find that many commonly cited indirect measures of sentiment are related to direct measures (surveys) of investor sentiment.
Journal ArticleDOI
Investor Sentiment and Asset Valuation
TL;DR: In this article, the link between asset valuation and investor sentiment is investigated and it is shown that market pricing errors implied by an independent valuation model are positively related to sentiment, while future returns over multi-year horizons are negatively related with sentiment, and the results are robust to the inclusion of other variables that have been shown to forecast stock returns.
Journal ArticleDOI
Do Initial Public Offering Firms Purchase Analyst Coverage with Underpricing
Michael T. Cliff,David J. Denis +1 more
TL;DR: In this article, the authors report that initial public offering (IPO) underpricing is positively related to analyst coverage by the lead underwriter and to the presence of an all-star analyst on the research staff of the lead Underwriter.
Journal ArticleDOI
Do IPO Firms Purchase Analyst Coverage With Underpricing
Michael T. Cliff,David J. Denis +1 more
TL;DR: In this paper, the authors examine the links among IPO underpricing, post-IPO analyst coverage, and the likelihood of switching underwriters and find a significant positive relation between under pricing and analyst coverage by the lead underwriter.