Conference item
Measuring the added value of stock recommendations
- Abstract:
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Using data from the Stockholm Stock Exchange we study the value added by (as distinct from the abnormal returns to) analysts’ recommendations. Recommending brokers’ clients trade profitably around positive recommendations at the expense of the clients of brokers without analyst coverage. Significant profits come from transactions before recommendation dates. Value added is greatest for upgrades to large caps. Value added from downgrades and from recommendations for small caps is largely insig...
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- Publication status:
- Accepted
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(Accepted manuscript, pdf, 565.8KB)
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Authors
Bibliographic Details
- Publisher:
- European Finance Association Publisher's website
- Journal:
- 3rd Annual Meeting of the European Finance Association Journal website
- Host title:
- 43rd Annual Meeting of the European Finance Association
- Publication date:
- 2016-01-01
- Acceptance date:
- 2016-04-20
- Event location:
- BI Norwegian Business School
- Event start date:
- 2016-08-17T00:00:00Z
- Source identifiers:
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632198
Item Description
- Keywords:
- Pubs id:
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pubs:632198
- UUID:
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uuid:88f65ca5-aa28-407e-adec-e52f325fd831
- Local pid:
- pubs:632198
- Deposit date:
- 2016-07-06
Terms of use
- Copyright date:
- 2016
- Notes:
- This article was presented at the 43rd EFA Annual Meeting – Oslo, Norway – 17-20 August 2016.
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