Add to ORKGBecause sell-side analysts are dependent on institutional investors for performance ratings and trading commissions, we argue that analysts are less likely to succumb to investment banking or brokerage pressure in stocks highly visible to institutional investors. Examining a comprehensive sample of analyst recommendations over the 1994-2000 period, we find that analysts’ recommendations relative to consensus are positively associated with investment banking relationships and brokerage pressure, but negatively associated with the presence of institutional investor owners. The presence of institutional investors is also associated with more accurate earnings forecasts and more timely re-ratings following severe share price falls
The finance literature suggests that analysts’ stock recommendations have negligible impact on mark...
In recent years investment banks have drawn particular criticism for the lack of objectivity and ind...
This paper investigates whether foreign institutional investors in the United States earn future ret...
Because sell-side analysts are dependent on institutional investors for performance ratings and trad...
Because sell-side analysts are dependent on institutional investors for performance ratings and trad...
We document that analysts cater to short - term investors by issuing optimistic target prices. Cater...
Prior research suggests that private information developed by an institutional investor’s buy-side a...
We document that analysts cater to short-term investors by issuing optimistic target prices. Caterin...
Existing studies show contradicting results regarding the usefulness of sell-side analysts’ forecast...
Existing studies show contradicting results regarding the usefulness of sell-side analysts’ forecast...
We document that analysts cater to short-term investors by issuing optimistic target prices. Caterin...
Evidence shows that market participants value analysts’ target prices. There is limited evidence, ho...
We examine whether conflicts of interest with investment banking and brokerage businesses induce sel...
This paper seeks to test whether analysts are prone to behavioral biases when making stock recommend...
The finance literature suggests that analysts’ stock recommendations have negligible impact on marke...
The finance literature suggests that analysts’ stock recommendations have negligible impact on mark...
In recent years investment banks have drawn particular criticism for the lack of objectivity and ind...
This paper investigates whether foreign institutional investors in the United States earn future ret...
Because sell-side analysts are dependent on institutional investors for performance ratings and trad...
Because sell-side analysts are dependent on institutional investors for performance ratings and trad...
We document that analysts cater to short - term investors by issuing optimistic target prices. Cater...
Prior research suggests that private information developed by an institutional investor’s buy-side a...
We document that analysts cater to short-term investors by issuing optimistic target prices. Caterin...
Existing studies show contradicting results regarding the usefulness of sell-side analysts’ forecast...
Existing studies show contradicting results regarding the usefulness of sell-side analysts’ forecast...
We document that analysts cater to short-term investors by issuing optimistic target prices. Caterin...
Evidence shows that market participants value analysts’ target prices. There is limited evidence, ho...
We examine whether conflicts of interest with investment banking and brokerage businesses induce sel...
This paper seeks to test whether analysts are prone to behavioral biases when making stock recommend...
The finance literature suggests that analysts’ stock recommendations have negligible impact on marke...
The finance literature suggests that analysts’ stock recommendations have negligible impact on mark...
In recent years investment banks have drawn particular criticism for the lack of objectivity and ind...
This paper investigates whether foreign institutional investors in the United States earn future ret...