Analyzing the analysts : when do recommendations add value ?

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Analyzing the analysts : when do recommendations add value ?

Jegadeesh, Narasimhan - ; Kim, Joonghyuk - ; Krische, Susan D - ; Lee, Charles M.C - ;

We show that analysts from sell-side firms generally recommend "glamour" ( i.e., positive momentum, high growth, high volume, and relatively expensive ) stocks. Naive adherence to these recommendations can be costly, because the level of the consensus recommendation adds value only among stocks with favorable quantitative characteristics (i.e., value stocks and positive momentum stocks ). In fact, among stocks with unfavorable quantitative characteristics, higher consensus recommendations are associated with worse subsequent returns..Printed Journal

Ketersediaan

Call Number	Location	Available
	PSB lt.dasar - Pascasarjana	1

Penerbit	The American Finance Association.,
Edisi	-
Subjek	-
ISBN/ISSN	00221082
Klasifikasi	-
Deskripsi Fisik	-
Info Detail Spesifik	-
Other Version/Related	Tidak tersedia versi lain
Lampiran Berkas	Tidak Ada Data