JOURNAL OF ECONOMICS AND BUSINESS最新文献

{"title":"Peran Zakat dan Wakaf Dalam Meningkatkan Kesejahteraan Ekonomi Masyarakat","authors":"Perananan Zakat, Wakaf Dalam, Meningkatkan Kesejahteraan, Ekonomi Masyarakat, Mira Febrianti, Rettinda Dwi Ulantari, Selvi Desfriyanti, Muhammad Dicky, G. Rianita, Dwie Juniar Puteri, al Peran Zakat","doi":"10.61994/econis.v2i1.455","DOIUrl":"https://doi.org/10.61994/econis.v2i1.455","url":null,"abstract":"This research aims to explore and analyze the roles of zakat and wakaf in empowering the community's economy using a qualitative approach. This approach allows for an in-depth understanding of how zakat and wakaf can serve as effective instruments in enhancing the economic well-being of the community. The research method employed is a case study, collecting data through in-depth interviews and direct observations of institutions involved in managing zakat and wakaf, as well as their beneficiaries.\u0000The findings indicate that zakat and wakaf play a significant role in community economic empowerment. It was found that proper management of zakat and wakaf funds can provide tangible benefits in strengthening the community's economy, especially those in low economic conditions. Targeted and transparent distribution of zakat and wakaf can also enhance community access to business capital and skills training, thereby increasing their productivity and income.\u0000 \u0000ABSTRAK\u0000Penelitian ini bertujuan untuk mengetahui peran zakat dan wakaf dalam pemberdayaan ekonomi masyarakat dengan pendekatan kualitatif. Pendekatan ini memungkinkan untuk memahami secara mendalam bagaimana zakat dan wakaf dapat menjadi instrumen yang efektif dalam meningkatkan kesejahteraan ekonomi masyarakat. Metode penelitian yang digunakan adalah studi kasus dengan mengumpulkan data melalui wawancara mendalam dan observasi langsung terhadap lembaga-lembaga yang terlibat dalam pengelolaan zakat dan wakaf serta penerima manfaatnya. Hasil penelitian menunjukkan bahwa zakat dan wakaf memiliki peran yang signifikan dalam pemberdayaan ekonomi masyarakat. Ditemukan bahwa pengelolaan yang baik dari dana zakat dan wakaf dapat memberikan manfaat yang nyata dalam memperkuat ekonomi masyarakat, terutama yang berada dalam kondisi ekonomi rendah. Penyaluran zakat dan wakaf yang tepat sasaran dan transparan juga dapat meningkatkan akses masyarakat terhadap modal usaha dan pelatihan keterampilan, yang pada gilirannya meningkatkan produktivitas dan pendapatan mereka.\u0000 ","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141350547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Konsep Etika Bisnis Dan Prilaku Konsumen Dalam Perspektif Ekonomi Syariah","authors":"Isnain Fitri Auli Yanti, Ulfian Ulfian, Febta Febriani, Delia Oktariza Bayulpa, Mulia Safitra, Dipa Jamantya Tarigan","doi":"10.61994/econis.v2i1.456","DOIUrl":"https://doi.org/10.61994/econis.v2i1.456","url":null,"abstract":"ABSTRACT\u0000Business Ethics in Sharia Economics which is based on Islamic principles which include justice, honesty, transparency, and avoiding riba (interest), maysir (gambling), gharar (excessive uncertainty), as well as respecting the rights of individuals and society in general, Business in sharia economics, it is expected to comply with Islamic laws in all aspects of its operations. Meanwhile, consumer behavior in sharia economics is also influenced by Islamic values, such as justice, generosity, honesty, and respect for the rights of consumers and producers. Consumers in a sharia economy are expected to avoid products or services that conflict with Islamic principles, such as alcohol, pork, or products that involve ribawi practices. The aim of this research is to gain a better understanding of how business ethics and consumer behavior can be regulated and implemented in the context of sharia economics, as well as to identify areas where there is a need for improvement or further development in appropriate business practices and consumer behavior. with Islamic principles. This research uses quantitative methods. This research data collection technique comes from official and trusted sources on Google, and we also carry out direct observations observing the behavior of business people and consumers.\u0000ABSTRAK\u0000Etika Bisnis dalam Ekonomi syariah yang didasarkan pada prinsip-prinsip islam yang mencakup keadilan,kejujuran,transparansi,dan menghindari riba (bunga), maysir (penjudian), gharar (ketidakpastian berlebihan), serta menghormati hak-hak individu dan masyarakat secara umum, Bisnis dalam ekonomi syariah diharapkan untuk mematuhi hukum-hukum islam dalam semua aspek operasionalnya.sedangkan Prilaku Konsumen dalam Ekonomi Syariah juga dipengaruhi oleh nilai-nilai Islam,seperti keadilan,kedermawanan,kejujuran,dan menghormati hak-hak konsumen serta produsen. Konsumen dalam ekonomi syariah diharapkan untuk menghindari produk atau layanan yang bertentangan dengan prinsip-prinsip islam,seperti alkohol,daging babi,atau produk-produk yang melibatkan praktik ribawi. Tujuan penelitihan ini adalah untuk mendapatkan pemahaman yang lebih baik tentang bagaimana etika bisnis dan perilaku konsumen dapat diatur dan dijalankan dalam konteks ekonomi syariah, serta untuk mengidentifikasi area-area di mana ada kebutuhan untuk perbaikan atau pengembangan lebih lanjut dalam praktik bisnis dan perilaku konsumen yang sesuai dengan prinsip-prinsip Islam.Penelitihan ini mengunakan metode kuantitatif. Teknik pengumpulan data penelitihan ini berasal dari sumber resmi dan terpercaya di googel,dan kami juga melakukan observasi secara langsung mengamati prilaku para pembisnis dan konsumen.\u0000.\u0000 ","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141361594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Implementasi Prinsip-Prinsip Ekonomi Islam Dalam Pengelolaan Keuangan Keluarga","authors":"Agus Azhar Ma'arif Umpunan Alam, Andi Arsyad, Cikal Agung Pamungkas, Depra Setiawan, Ryan Hidayat, Ilham Aditya, Ibraahiim Ar-raasyid","doi":"10.61994/econis.v2i1.465","DOIUrl":"https://doi.org/10.61994/econis.v2i1.465","url":null,"abstract":"ABSTRACT\u0000This journal discusses the relevance and implementation of the basic principles of Islamic economics in financial management amid the complexity of the modern economy and globalization. The purpose of this research is to be able to use money in  accordance with sharia law or Islamic law. The research method is qualitative in the form of literature review. By searching in trusted journals or previous scientific articles. The results of this study are about the importance of Islamic economic principles in financial management to provide a solid ethical and moral foundation, create economic sustainability, and prioritize distributive justice in society. Saving money or saving can make us a more frugal person and learn to manage finances. By saving money, we familiarize ourselves with living frugally, managing expenses according to needs, and meeting future needs. In addition, teaching savings from an early age has benefits such as managing personal money, having financial planning, appreciating money, learning discipline, and making pride. Islam instructs humans to consume halal and good goods and services reasonably and in moderation. Fulfillment of needs and desires is permitted as long as it can add benefits and does not cause damage.  The concept of zakat, waqf, infaq and sadaqah teaches participation in community development. The challenge of implementing Islamic financial principles is the lack of understanding and integration of the community.\u0000 \u0000ABSTRAK\u0000Jurnal ini membahas relevansi dan implementasi prinsip dasar ekonomi Islam dalam pengelolaan keuangan di tengah kompleksitas ekonomi modern dan globalisasi. Tujuan penelitian ini agar bisa menggunakan uang sesuai dengan hukum syariah atau hukum Islami. Metode penelitian adalah kualitatif berupa literatur review. Dengan cara mencari di jurnal-jurnal atau artikel ilmiah terdahulu yang terpercaya. Hasil dari penelitian ini adalah tentang pentingnya prinsip ekonomi Islam dalam pengelolaan keuangan memberikan landasan etika dan moral yang kokoh menciptakan keberlanjutan ekonomi, serta mengedepankan keadilan distributif dalam masyarakat. Menyimpan uang atau menabung dapat membuat kita menjadi pribadi yang lebih hemat dan belajar mengatur keuangan. Dengan menabung kita membiasakan diri hidup hemat, mengatur pengeluaran sesuai kebutuhan, dan memenuhi kebutuhan di masa depan. Selain itu, mengajarkan menabung sejak usia dini memiliki manfaat seperti mengelola uang pribadi, memiliki perencanaan keuangan, menghargai uang, belajar disiplin, dan membuat kebanggaan. Islam memerintahkan manusia untuk mengkonsumsi barang dan jasa yang halal dan baik secara wajar dan tidak berlebihan. Pemenuhan kebutuhan dan keinginan diizinkan selama hal itu dapat menambah keuntungan dan tidak mendatangkan kerusakan.  Konsep zakat, wakaf, infaq dan sedekah mengajarkan partisipasi dalam pembangunan masyarakat. Tantangan penerapan prinsip keuangan syariah adalah kurangnya pemahaman dan integrasi masyarakat ke dalam sist","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141366408","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Peran Etika Bisnis Dalam Pengelolaan Zakat dan Wakaf","authors":"Robiyatul Nabillah Putri, Arif Febrian, Kristina Damayanti, Martanti, Universitas Uin, Raden Fatah Palembang, Universitas Sriwijaya, Karawang, Z. Wakaf, Islamic Ekonomic","doi":"10.61994/econis.v2i1.457","DOIUrl":"https://doi.org/10.61994/econis.v2i1.457","url":null,"abstract":"ABSTRACT\u0000The management of zakat and waqf requires an ethical and responsible approach to ensure that the funds are utilized effectively and provide maximum benefit to those in need. In this context, business ethics plays a significant role in regulating the practices of zakat and waqf fund management. This research explores the role of business ethics in the management of zakat and waqf, highlighting principles such as transparency, legal compliance, justice, and accountability. Through a qualitative approach involving literature review and content analysis, the study concludes that the application of business ethics in the management of zakat and waqf is a crucial step to ensure proper and equitable use of funds in accordance with the intentions of the zakat and wakaf\u0000 \u0000ABSTRAK \u0000Pengelolaan zakat dan wakaf memerlukan pendekatan yang etis dan bertanggung jawab untuk memastikan bahwa dana tersebut digunakan secara efektif dan memberikan manfaat maksimal bagi mereka yang membutuhkan. Dalam konteks ini, etika bisnis memainkan peran penting dalam mengatur praktik-praktik pengelolaan dana zakat dan wakaf. Penelitian ini mengeksplorasi peran etika bisnis dalam pengelolaan zakat dan wakaf, dengan menyoroti prinsip-prinsip seperti transparansi, kepatuhan hukum, keadilan, dan akuntabilitas. Melalui pendekatan kualitatif yang melibatkan tinjauan literatur dan analisis isi, penelitian ini menyimpulkan bahwa penerapan etika bisnis dalam pengelolaan zakat dan wakaf merupakan langkah penting untuk memastikan penggunaan dana yang tepat dan adil sesuai dengan tujuan zakat dan wakaf\u0000 ","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141367976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dampak Sistem Keuangan Mikro Syariah dan Bank Syariah Terhadap Pertumbuhan Ekonomi Nasional","authors":"Adelia Nurbaiti Hasanah, Muhamad Dikky, Anisah Azzahra, F. Umam, Ismawati Nur, Aini Noviana, Sisilia Ramadhanti, Keuangan Syariah, Pertumbuhan Ekonomi, Perbankan Syariah","doi":"10.61994/econis.v2i1.447","DOIUrl":"https://doi.org/10.61994/econis.v2i1.447","url":null,"abstract":"ABSTRACT\u0000Economic growth is the development of economic activity characterized by an increase in the level of production of goods and services needed by the public. The financial industry is one area that has the power to influence economic expansion. The financial industry has been a major factor in the country's economic expansion. Both conventional and Islamic banks, these two systems can work together side by side To commemorate this, Bank Muamalat Indonesia was established. The purpose of this study is to ascertain how Islamic banking and finance affects economic growth. Multiple linear regression is the data analysis technique used in this study. Several dependent variables and one independent variable were used in this data analysis technique. According to the research findings, Islamic finance is a financial rule or way of working that is based on Islamic legal values. An example of the best feature of Islamic finance in Islamic banking is that it helps distribute capital between the short-term money market and the real sector, which enhances economic growth in Indonesia. To encourage a growing economy, a model to complement the Islamic finance system in the banking industry needs to be introduced. This is an innovation in Islamic banking, a product that represents strategic issues.\u0000 \u0000ABSTRAK\u0000Pertumbuhan ekonomi yaitu berkembangnya kegiatan ekonomi yang ditandai oleh bertambahnya tingkat produksi barang dan jasa yang diperlukan oleh publik. Industri keuangan adalah salah satu bidang yang memiliki kekuatan untuk memengaruhi ekspansi ekonomi. Industri keuangan telah menjadi faktor utama dalam ekspansi ekonomi negara. Baik bank konvensional maupun syariah, kedua sistem ini dapat bekerja sama secara berdampingan Untuk memperingati hal tersebut, didirikanlah Bank Muamalat Indonesia. Tujuan dari penelitian ini adalah untuk memastikan bagaimana perbankan dan keuangan syariah memengaruhi pertumbuhan ekonomi. Multiple linear regression adalah teknik analisis data yang digunakan dalam penelitian ini. Beberapa variabel tergantung dan satu variabel independen digunakan dalam teknik analisis data ini. Menurut temuan penelitian, keuangan Islam merupakan sebuah aturan atau cara  kerja keuangan yang didasarkan pada nilai-nilai hukum Islami. Sebuah contoh fitur terbaik dari keuangan syariah di perbankan syariah adalah membantu mendistribusikan modal antara pasar uang jangka pendek dan sektor riil, yang meningkatkan pertumbuhan ekonomi di Indonesia. Untuk mendorong terjadinya ekonomi yang bertumbuh, model untuk melengkapi sistem keuangan syariah di industri perbankan perlu diperkenalkan. Ini merupakan sebuah inovasi dalam perbankan syariah, yaitu produk yang mewakili isu-isu strategis.\u0000 ","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141369191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"State-dependent intertemporal risk-return tradeoff: Further evidence","authors":"Surya Chelikani ,&nbsp;Joseph M. Marks ,&nbsp;Kiseok Nam","doi":"10.1016/j.jeconbus.2024.106161","DOIUrl":"10.1016/j.jeconbus.2024.106161","url":null,"abstract":"<div><p>We suggest that the intertemporal risk-return tradeoff is not necessarily positive but rather state dependent. We further explore the state dependent risk-return relation by examining how the positive risk-return relation is distorted in response to various market conditions, including extreme price changes, differing levels of investor sentiment, the introduction of stock options, and throughout business cycles. The tendency for uninformed investors to be optimistic (pessimistic) in response to good (bad) market news cause overpricing (underpricing), and the resulting trade activity of arbitrageurs that distorts the positive risk-return tradeoff, is documented consistently across these environments. We find that the attenuation (reinforcement) of the positive risk-return relation under investors’ optimistic (pessimistic) expectations is stronger in high (low) sentiment periods, in the presence of extreme returns, in the period after stock options became available, and during expansionary periods. We argue that the asymmetric intertemporal risk-return relation is a consequence of rational arbitrageurs’ trading to exploit mispricing through the selling of overpriced stocks conditional on good news and buying underpriced stocks conditional on bad news.</p></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139679085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A different view on acquisition paradox: Empirical examination of international acquisitions from competitiveness perspective","authors":"Omer F. Genc ,&nbsp;Dan Luo","doi":"10.1016/j.jeconbus.2024.106182","DOIUrl":"10.1016/j.jeconbus.2024.106182","url":null,"abstract":"<div><p>Acquisitions are complex strategic decisions and there is not a consensus about the outcomes of them. The complexity and the implications increase with international a<strong>c</strong>quisitions (IA). We examine international acquisitions from a different perspective to see how they affect competitiveness of acquires using a sample of international acquisitions by U.S. firms applying a control sample methodology. Competitiveness outcomes of IAs vary based on the dimension used. They result with lower financial performance, profitability and productivity whereas have a positive effect on market power and innovation of acquirers. Negative performance is consistent with the general belief about agency theory, but our findings also provide support for the resource-based view of enhanced competitiveness. Regarding the success factors, we show that capabilities of acquirers matter more than their resources in explaining post-acquisition competitiveness of acquirers. Acquirers with greater acquisition experience benefit a lot more from IAs compared to firms without acquisition experience. We also show that relatedness of acquirer and target is crucial for creating synergies and efficiencies in terms of enhanced productivity.</p></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140761765","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The effect of physical collateral and personal guarantees on business startups","authors":"Yuji Honjo ,&nbsp;Arito Ono ,&nbsp;Daisuke Tsuruta","doi":"10.1016/j.jeconbus.2024.106172","DOIUrl":"https://doi.org/10.1016/j.jeconbus.2024.106172","url":null,"abstract":"<div><p>Using microdata for Japan for 2007 and 2012, we examine whether and how financial constraints discourage individuals from starting a business. As proxies for financial constraints, we use prefectural variations in the share of firms relying on physical collateral and personal guarantees. We find that individuals are less likely to become nascent entrepreneurs if they live in a prefecture with a higher share of firms relying on personal guarantees. The negative effect of personal guarantees on becoming a nascent entrepreneur is insignificant when using a subsample for 2012, suggesting that administrative and legislative changes since the 2000s have made personal guarantees less costly for potential entrepreneurs over time. In contrast, we do not find a negative link between physical collateral and business startups. Our findings suggest that the low level of entrepreneurship in Japan is not due to financial constraints. If anything, it is due to a lack of risk-taking by potential entrepreneurs rather than a lack of collateralizable assets.</p></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141294474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Basel III countercyclical bank capital buffer estimation and its relation to monetary policy","authors":"Juan F. Rendón ,&nbsp;Lina M. Cortés ,&nbsp;Javier Perote","doi":"10.1016/j.jeconbus.2024.106173","DOIUrl":"10.1016/j.jeconbus.2024.106173","url":null,"abstract":"<div><p>This paper proposes a new model to estimate the countercyclical bank solvency capital buffer established in Basel III. The model lies in a flexible semi-nonparametric approach to capture the probability distribution of the capital adequacy ratio, but also a stochastic Ornstein–Uhlenbeck process that incorporates components of the cyclical behavior. We measure the risk of breaching the minimum capital threshold that separates the countercyclical capital buffer from other capital components and analyze its relationship with macroeconomic variables such as interest rates, credit levels, and credit-to-GDP gaps. Furthermore, a vector autoregressive model is estimated to test the existence of the bank-capital channel and the risk-taking channel. The application to Germany and the Netherlands shows that countercyclical buffers are more accurate when skewness and kurtosis are considered and the probability of breaching the regulatory threshold is sensitive to macroeconomic signals. Overall, our model seems to be a useful tool for monitoring prudential policy and as a guide to establish countercyclical capital buffers.</p></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0148619524000158/pdfft?md5=16682eede1a79874eac4b0f972afb9ac&pid=1-s2.0-S0148619524000158-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140267971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysts’ extrapolative expectations in the cross-section","authors":"Andreas Oesinghaus","doi":"10.1016/j.jeconbus.2024.106174","DOIUrl":"10.1016/j.jeconbus.2024.106174","url":null,"abstract":"<div><p>This paper examines extrapolative patterns of analysts’ expectations in the cross-section of firms. Using analysts’ target prices, I estimate the degree of extrapolative weighting capturing the relative weight analysts place on recent versus distant realized returns when forming their price expectation. I show considerable levels of extrapolation in the overall sample and on firm level. Results suggest considerable cross-sectional variation of extrapolation with valuation difficulty having a positive impact on the degree of extrapolative weighting. Furthermore, I construct a time-series of the degree of extrapolative weighting and argue that its time-series variation is also explained by valuation difficulty.</p></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S014861952400016X/pdfft?md5=5f27bf74581b6856da83a31368b35903&pid=1-s2.0-S014861952400016X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140196839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}