Impact of Analysts' Recommendations on Stock Performance

Valentyn Panchenko

The European Journal of Finance, 2007, vol. 13, issue 2, 165-179

Abstract: This paper examines the effect of analysts' recommendations on stock return, volume and volatility. The study covers a sample of 36 large cap stocks traded on the US stock market over the period June 1997-May 2003. The empirical evidence suggests a significant impact of analysts' recommendations on the stock market. The research considers market microstructure and looks at the motivation and behaviour of analysts.

Keywords: Analysts' recommendations; stock returns; volume; volatility (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (3)

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DOI: 10.1080/13518470500459782

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