Image of Are Analyst Short-Term Trade Ideas Valuable?

Are Analyst Short-Term Trade Ideas Valuable?

Short-term trade ideas are a component of analyst research highly valued by institutional investors. Using a novel and comprehensive database, we find that trade ideas have a stock price impact at least as large as recommendation and target price changes. Trade ideas based on expectations of future events are more informative than those identifying incomplete incorporation of past information in stock prices. Analysts with better access to a firm's management produce better trade ideas. Institutional investors trade in the direction of trade ideas. Investors following trade ideas can earn significant abnormal returns, consistent with analysts possessing valuable short-term stock-picking skills.

Ketersediaan
Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana (Koleksi Majalah)1
Informasi Detail
Judul Seri
-
No. Panggil
-
Penerbit
USA : The American Finance Association.,
Deskripsi Fisik
First published: 12 April 2022
Bahasa
English
ISBN/ISSN
1540-6261
Klasifikasi
NONE
Tipe Isi
text
Tipe Media
-
Tipe Pembawa
-
Edisi
Volume 77, Issue 3, June 2022, Pages 1829-1875
Subjek
Stock prices
Institutional Investors
Short-term Trade
Info Detail Spesifik
The Journal of Finance
Pernyataan Tanggungjawab
Versi lain/terkait

Tidak tersedia versi lain

Lampiran Berkas
Komentar
Anda harus masuk sebelum memberikan komentar