Do brokerage houses add value? The market impact of UK sell-side analyst recommendation changes

Paul Ryan and Richard J. Taffler

The British Accounting Review, 2006, vol. 38, issue 4, 371-386

Abstract: This paper reports on the first full study investigating the economic role of sell-side analysts’ stock recommendations in the UK market. We also explore whether UK analysts are, in practice, influenced by the same biases as that reported for their US counterparts.

Keywords: Analysts’ recommendations; Analysts’ incentives; Investment banking relationship; Brokerage house reputation; Earnings forecast revisions (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bracre:v:38:y:2006:i:4:p:371-386

DOI: 10.1016/j.bar.2006.07.015

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