摘要
This paper examines how conflicting recommendations from star analysts and normal analysts predict a firm's future stock price and operating performance. We find that when normal analysts issue bold negative recommendations that contradict the views of star analysts, firms that receive such negative recommendations experience worse stock returns and deteriorating fundamental performance over the following two years. Our study provides new insights into the disclosure of private information by financial analysts.
源语言 | 英语 |
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文章编号 | 111765 |
页数 | 7 |
期刊 | Economics Letters |
卷 | 240 |
DOI | |
出版状态 | 已出版 - 7月 2024 |
成果物的来源
- ABDC-A
- SSCI
指纹
探究 'Braveheart: On the divergence of recommendations between normal and star analysts' 的科研主题。它们共同构成独一无二的指纹。引用此
Zeng, S., & Li, Y. E. (2024). Braveheart: On the divergence of recommendations between normal and star analysts. Economics Letters, 240, 文章 111765. https://doi.org/10.1016/j.econlet.2024.111765