Empirical analysis of investors' reaction to individual vs group-written research reports
The objective of this research is to investigate whether investors perceive that research reports written by a team of analysts is of higher quality than those written by an individual analyst. The statistical tests show that investors react more strongly to team-analyst reports than individual-anal...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
Nanyang Technological University
2008
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/10544 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | The objective of this research is to investigate whether investors perceive that research reports written by a team of analysts is of higher quality than those written by an individual analyst. The statistical tests show that investors react more strongly to team-analyst reports than individual-analyst reports. Specifically, the abnormal returns on publication of
individual-analyst reports are significantly lower than those for team-analyst reports, thus supporting our hypothesis and the behavioural decision-making theory. |
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