Cormac O Keeffe

Waterford Institute of Technology | WIT · Department of Accountancy & Economics

This paper examines the investment value of financial analysts' advice (earnings forecasts and stock recommendations) to shareholders around two recent bubble periods in the United Kingdom: the dot-com bubble period and the credit bubble period. We find that analysts' advice is valuable at the firm level, as reflected in their recommendations for h...

This article finds evidence of significant reversals in returns over the medium term in Greek stocks. In contrast with previous research, return reversals are more pronounced for past winners, suggesting that the market overreacts to a greater extent to good news. These contrarian returns are particularly elevated when portfolios are formed using q...

This article examines return momentum in Irish shares over a 24-year period, including the recent credit crisis. The optimal momentum strategy generates significant risk-adjusted abnormal returns that are robust to the return generating model and seasonal effects. The extent of underreaction is more symmetrical than previous research has indicated,...