Philip B. Shane

College of William & Mary - Raymond A. Mason School of Business

Professor

P.O. Box 8795

Williamsburg, VA 23185

United States

SCHOLARLY PAPERS

29

DOWNLOADS
Rank 4,612

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Top 4,612

in Total Papers Downloads

15,906

SSRN CITATIONS
Rank 5,588

SSRN RANKINGS

Top 5,588

in Total Papers Citations

162

CROSSREF CITATIONS

154

Scholarly Papers (29)

1.

A Review of Research Related to Financial Analysts' Forecasts and Stock Recommendations

Number of pages: 117 Posted: 16 Nov 2005 Last Revised: 27 Apr 2010
Sundaresh Ramnath, Steve Rock and Philip B. Shane
University of Miami - Department of Accounting, University of Colorado at Boulder - Department of Accounting and College of William & Mary - Raymond A. Mason School of Business
Downloads 4,619 (3,896)
Citation 14

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Financial analyst forecasts, analyst recommendations

2.

The Financial Analyst Forecasting Literature: A Taxonomy with Suggestions for Further Research

International Journal of Forecasting, Vol. 24, No. 1, 2008
Number of pages: 42 Posted: 18 Feb 2008
Sundaresh Ramnath, Steve Rock and Philip B. Shane
University of Miami - Department of Accounting, University of Colorado at Boulder - Department of Accounting and College of William & Mary - Raymond A. Mason School of Business
Downloads 2,777 (8,881)
Citation 34

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Earnings forecasting, Financial analysts, Financial markets, Stock price forecasts, Analyst stock recommendations, Analyst research

3.

Investor and (Value Line) Analyst Underreaction to Information About Future Earnings: The Corrective Role of Non-Earnings-Surprise Information

Number of pages: 26 Posted: 04 Jun 2001
Peter A. Brous and Philip B. Shane
Seattle University and College of William & Mary - Raymond A. Mason School of Business
Downloads 1,607 (21,167)
Citation 11

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Analysts' forecasts, Market efficiency, Underreaction, Post-earnings-announcement drift

4.

Value Line and I/B/E/S Earnings Forecasts

Number of pages: 34 Posted: 12 Dec 2001
Sundaresh Ramnath, Steve Rock and Philip B. Shane
University of Miami - Department of Accounting, University of Colorado at Boulder - Department of Accounting and College of William & Mary - Raymond A. Mason School of Business
Downloads 1,191 (33,047)
Citation 10

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Financial analysts' earnings forecasts, Value Line, I/B/E/S, Market earnings expectations, Forecasting databases

5.

Academic Research and Standard Setting: The Case of Other Comprehensive Income

Accounting Horizons, Forthcoming
Number of pages: 50 Posted: 26 Mar 2012 Last Revised: 07 May 2012
Lynn L. Rees and Philip B. Shane
Utah State University - School of Accountancy and College of William & Mary - Raymond A. Mason School of Business
Downloads 818 (55,934)
Citation 4

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other comprehensive income, standard setting, earnings, literature review

6.

Earnings and Price Discovery in the Post-Reg. Fd Information Environment: A Preliminary Analysis

Number of pages: 27 Posted: 21 Nov 2001
Philip B. Shane, Naomi S. Soderstrom and Sung Wook Yoon
College of William & Mary - Raymond A. Mason School of Business, University of Melbourne and California State University, Northridge
Downloads 774 (60,292)
Citation 35

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Reg. FD; Analysts forecasts; Regulation; Information environment

7.

The Role of Financial Analysts in Stock Market Efficiency with Respect to Annual Earnings and its Cash and Accrual Components

Accounting & Finance, Volume 57, Issue 1 p199-237
Number of pages: 55 Posted: 01 Apr 2013 Last Revised: 30 Aug 2018
Dana Hollie, Philip B. Shane and Qiuhong Zhao
Louisiana State University, Baton Rouge - Department of Accounting, College of William & Mary - Raymond A. Mason School of Business and Texas A&M University - Corpus Christi
Downloads 631 (78,373)

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Analyst Forecast, Forecasting Bias, Accrual, Free Cash Flow, Market Efficiency

8.

Accounting Comparability and Underpricing Seasoned Equity Offerings

Number of pages: 50 Posted: 30 Dec 2013 Last Revised: 12 Apr 2024
Adam Bordeman, Philip B. Shane, David B. Smith and Suning Zhang
Cal Poly-SLO, College of William & Mary - Raymond A. Mason School of Business, University of Nebraska at Lincoln - School of Accountancy and Iowa State University - Debbie and Jerry Ivy College of Business
Downloads 528 (98,041)
Citation 7

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Seasoned equity offerings; Financial Statement Comparability; Valuation; Information asymmetry; Decision usefulness; Capital markets; Underpricing; Cost of capital

9.

Horizon-Dependent Underreaction in Financial Analysts' Earnings Forecasts

Contemporary Accounting Research, Vol. 23, No. 1, Spring 2006, McCombs Research Paper Series No. ACC-04-05
Number of pages: 33 Posted: 03 Oct 2003 Last Revised: 20 Sep 2012
Jana Smith Raedy, Philip B. Shane and Yanhua Sunny Yang
University of North Carolina at Chapel Hill, College of William & Mary - Raymond A. Mason School of Business and University of Connecticut - School of Business
Downloads 519 (100,124)
Citation 16

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Earnings forecasts, security analysts, underreaction, forecast rationality

Changes in Cash: Persistence and Pricing Implications

Number of pages: 50 Posted: 19 Feb 2014
Jeff Zeyun Chen and Philip B. Shane
Texas Christian University and College of William & Mary - Raymond A. Mason School of Business
Downloads 299 (185,842)
Citation 3

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Earnings persistence; Free cash flow; Fundamentals-driven changes in cash, Suboptimal cash build-up, Suboptimal cash reduction; Market efficiency with respect to changes in cash

Changes in Cash: Persistence and Pricing Implications

Journal of Accounting Research, Vol. 52, No. 3, 2014
Posted: 11 Sep 2014
Jeff Zeyun Chen and Philip B. Shane
Texas Christian University and College of William & Mary - Raymond A. Mason School of Business

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Earnings persistence; Free cash flow; Fundamentals-driven changes in cash; Suboptimal cash build-up; Suboptimal cash reduction; Market efficiency with respect to changes in cash

11.

Do Financial Analysts’ Long-Term Growth Forecasts Matter? Evidence from Stock Recommendations and Career Outcomes

Journal of Accounting & Economics (JAE), Vol. 51, No. 1-2, 2012
Number of pages: 49 Posted: 16 Sep 2011 Last Revised: 19 Mar 2015
Boochun Jung, Philip B. Shane and Yanhua Sunny Yang
University of Hawaii at Manoa - School of Accountancy, College of William & Mary - Raymond A. Mason School of Business and University of Connecticut - School of Business
Downloads 278 (201,645)
Citation 19

Abstract:

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long-term earnings growth forecast, stock recommendations, career outcomes

12.

Do Buy-Side Analysts Inform Sell-Side Analyst Research?

University of Connecticut School of Business Research Paper No. 17-12
Number of pages: 57 Posted: 12 Oct 2017 Last Revised: 08 Aug 2023
Gjergji Cici, Philip B. Shane and Yanhua Sunny Yang
University of Kansas - School of Business, College of William & Mary - Raymond A. Mason School of Business and University of Connecticut - School of Business
Downloads 266 (210,819)

Abstract:

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sell-side analysts, buy-side analysts, institutional investors

13.

Earnings Guidance and Earnings Management Constraints

Number of pages: 46 Posted: 15 Oct 2012
Adam S. Koch, Craig E. Lefanowicz and Philip B. Shane
University of Virginia - McIntire School of Commerce, University of Virginia - McIntire School of Commerce and College of William & Mary - Raymond A. Mason School of Business
Downloads 251 (223,368)
Citation 2

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earnings guidance, management forecasts, earnings management, corporate disclosure

14.

Long-term Growth Forecasts and Market Efficiency with Respect to the Innovative Efficiency of R&D-Intensive Firms

Number of pages: 65 Posted: 05 Oct 2016 Last Revised: 25 Oct 2021
Jeff Zeyun Chen, Philip B. Shane, Liu Yang and Joseph Zhang
Texas Christian University, College of William & Mary - Raymond A. Mason School of Business, University of Miami and University of Memphis
Downloads 221 (252,548)
Citation 1

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Innovation, Patents, Long-term growth, Analysts’ forecasts, Market efficiency

15.

Information in the Tails of the Distribution of Analysts’ Quarterly Earnings Forecasts

Financial Analysts Journal, Forthcoming
Number of pages: 40 Posted: 18 May 2016
Philip B. Shane, Cameron Truong and Qiuhong Zhao
College of William & Mary - Raymond A. Mason School of Business, Monash University and Texas A&M University - Corpus Christi
Downloads 188 (292,923)

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earnings news, tail earnings forecasts, market efficiency, post-earnings announcement drift

16.

10K Complexity and the Market Efficiency and Information Asymmetry Implications of Analysts’ Annual Earnings Forecasts

Number of pages: 50 Posted: 11 Mar 2019 Last Revised: 25 Oct 2021
Jamie Diaz, Kenneth Njoroge and Philip B. Shane
College of William and Mary, College of William and Mary - Mason School of Business and College of William & Mary - Raymond A. Mason School of Business
Downloads 179 (305,913)

Abstract:

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10K complexity, information asymmetry, analyst forecasts, market efficiency

17.

Inferring Analysts' Information About Changes in Earnings Components*

Number of pages: 31 Posted: 17 Sep 2004
David A. Guenther, Philip B. Shane and David P. Weber
University of Oregon - Department of Accounting, College of William & Mary - Raymond A. Mason School of Business and University of Connecticut - Department of Accounting
Downloads 172 (316,836)

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analysts, earnings, forecasts, components, accuracy

18.

Do Financial Analysts Generate Value-Relevant Interpretive Information from 10-K Filings?

Number of pages: 51 Posted: 15 May 2017
Jamie Diaz, Kenneth Njoroge and Philip B. Shane
College of William and Mary, College of William and Mary - Mason School of Business and College of William & Mary - Raymond A. Mason School of Business
Downloads 134 (388,839)

Abstract:

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Financial Analysts, Earnings Forecast Revisions, 10-K Filings, Value-Relevance, Interpretive Information

19.

Do Analysts’ Long-Term Growth Forecasts Signal Effective Effort Underlying Informative Stock Recommendations and Favorable Career Outcomes?

Number of pages: 60 Posted: 09 Jul 2010
Boochun Jung, Philip B. Shane and Yanhua Sunny Yang
University of Hawaii at Manoa - School of Accountancy, College of William & Mary - Raymond A. Mason School of Business and University of Connecticut - School of Business
Downloads 125 (410,342)
Citation 1

Abstract:

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long-term earnings growth forecast, stock recommendations, career outcomes

20.

Insurance Primer for Nonspecialists

Number of pages: 36 Posted: 25 May 2023
Philip B. Shane
College of William & Mary - Raymond A. Mason School of Business
Downloads 76 (571,961)

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21.

Mitigating Irrational Credit Card Debt Payment Patterns

Number of pages: 21 Posted: 25 May 2023
Philip B. Shane
College of William & Mary - Raymond A. Mason School of Business
Downloads 66 (617,383)

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22.

A Trust for Every Season

Number of pages: 36 Posted: 25 May 2023
Philip B. Shane
College of William & Mary - Raymond A. Mason School of Business
Downloads 65 (627,466)

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trusts, irrevocable trusts, qprt, estate planning, financial planning

23.

Bargaining Power and the Relations between Changes in Purchase Obligations and Future Earnings, Analysts’ Forecast Errors, and Stock Price Changes

Number of pages: 30 Posted: 08 Sep 2020
Dharmendra Naidu and Philip B. Shane
Monash University - Department of Accounting and College of William & Mary - Raymond A. Mason School of Business
Downloads 51 (698,661)

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Bargaining Power, Purchase Obligations, Future Earnings, Analysts' Forecasts

24.

Mitigating Probate Costs

Number of pages: 16 Posted: 25 May 2023
Philip B. Shane
College of William & Mary - Raymond A. Mason School of Business
Downloads 33 (824,699)

Abstract:

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financial planning, estate planning, probate, living trusts

25.

Financial Resources for College Education

Number of pages: 19 Posted: 25 May 2023
Philip B. Shane
College of William & Mary - Raymond A. Mason School of Business
Downloads 29 (857,742)

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Coverdell College Savings Accounts, Section 529 College Savings Accounts, Tax benefits

26.

Financial Analysts’ Forecasts and Stock Recommendations: A Review of the Research

Foundations and Trends in Finance, Vol. 2, No. 4, pp. 311-421, 2006
Number of pages: 111 Posted: 14 Jun 2010
Sundaresh Ramnath, Steve Rock and Philip B. Shane
University of Miami - Department of Accounting, University of Colorado at Boulder - Department of Accounting and College of William & Mary - Raymond A. Mason School of Business
Downloads 9 (1,048,871)
Citation 4
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27.

Security Analyst and Stock Market Efficiency in Anticipating Tax-Motivated Income Shifting

Accounting Review, Vol. 81, No. 1, January 2006
Posted: 13 Nov 2005 Last Revised: 26 Feb 2008
Philip B. Shane and Toby Stock
College of William & Mary - Raymond A. Mason School of Business and Ohio University - School of Accountancy

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Analysts' forecasts, analyst and market efficiency, taxes, earnings management

28.

An Evaluation of the Ability of Logit-Based Financial Statement Analysis to Identify Market Mispricing

Posted: 23 Sep 1996
Richard M. Morton and Philip B. Shane
Florida State University - Department of Accounting and College of William & Mary - Raymond A. Mason School of Business

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29.

10-K Complexity, Analysts’ Forecasts, and Price Discovery in Capital Markets

Number of pages: 36
Jamie Diaz, Kenneth Njoroge and Philip B. Shane
College of William and Mary, College of William and Mary - Mason School of Business and College of William & Mary - Raymond A. Mason School of Business
Downloads 0

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Market efficiency, anomalies, analyst forecasts, underreaction, 10-K complexity, accounting information, capital markets