کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
10476070 | 929523 | 2005 | 38 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Information content of equity analyst reports
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
حسابداری
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Information content of equity analyst reports Information content of equity analyst reports](/preview/png/10476070.png)
چکیده انگلیسی
We catalog the complete contents of Institutional Investor All-American analyst reports and examine the market reaction to their release. Including the justifications supporting an analyst's opinion reduces, and in some models eliminates, the significance of earnings forecasts and recommendation revisions. Analysts both provide new information and interpret previously released information. The information in a report is most important for downgrades; target prices and the analyst's justifications are the only significant elements for reiterations. No correlation exists between valuation methodology and either analyst accuracy or the market's reaction to a report. Our adjusted R2s are much larger than those of studies using only summary measures.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 75, Issue 2, February 2005, Pages 245-282
Journal: Journal of Financial Economics - Volume 75, Issue 2, February 2005, Pages 245-282
نویسندگان
Paul Asquith, Michael B. Mikhail, Andrea S. Au,