Analysts’ Incentive- and Cognitive-Based Processing Biases: Evidence from Recommendation Revisions

2009 ◽  
Author(s):  
Ruei-Shian Wu ◽  
Hsiou-wei Lin
Keyword(s):  
Recommendation Revisions

Investor Attention and Market Reaction to Analysts’ Recommendation Revisions: Evidence from Korean Data

2019 ◽  
Vol 12 (2) ◽  
pp. 61-77
Author(s):  
Joon-Sung Ha ◽  
Doseong Kim ◽  
Youngjoo Lee
Keyword(s):  
Market Reaction ◽  
Investor Attention ◽  
Recommendation Revisions

scholarly journals The performance of UK stock recommendation revisions: Does brokerage house reputation matter?

2020 ◽  
Author(s):  
Chen Su ◽  
Hanxiong Zhang ◽  
Nathan Lael Joseph
Keyword(s):  
Stock Recommendation ◽  
Recommendation Revisions

scholarly journals Is herding spurious or intentional? Evidence from analyst recommendation revisions and sentiment

2020 ◽  
Vol 71 ◽  
pp. 101539
Author(s):  
Jiaqi Guo ◽  
Phil Holmes ◽  
Ali Altanlar
Keyword(s):  
Analyst Recommendation ◽  
Recommendation Revisions

The Speed of Information and the Sell-Side Research Industry

2019 ◽  
Vol 55 (5) ◽  
pp. 1467-1490 ◽  
Author(s):  
Daniel Bradley ◽  
Jonathan Clarke ◽  
Linghang Zeng
Keyword(s):  
Price Discovery ◽  
Analyst Recommendations ◽  
Real Effects ◽  
Median Delay ◽  
Recommendation Revisions

Between 2009 and 2013, the Fly on the Wall (FLY) leaked 58% of recommendation revisions with a median delay of 27 minutes relative to the IBES announcement time. We show that FLY improves price discovery, but leaked recommendations hamper brokers’ ability to offer price improvement on trades routed through them. Three major brokers sued FLY; using key court dates, we show significant wealth and real effects to the brokerage industry. Overall, the speed with which analyst recommendations are disseminated has led to more rapid price discovery at the expense of a decline in the scope of the sell-side research industry.

Predicting Influential Recommendation Revisions

2015 ◽  
Author(s):  
Joss Faias ◽  
Pedro Miguel Mascarenhas
Keyword(s):  
Recommendation Revisions

Financial analysts’ stock recommendation revisions and stock price changes

2008 ◽  
Vol 18 (4) ◽  
pp. 309-325 ◽  
Author(s):  
Yung-Ho Chang ◽  
Chia-Chung Chan
Keyword(s):  
Stock Price ◽  
Financial Analysts ◽  
Price Changes ◽  
Stock Recommendation ◽  
Recommendation Revisions
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