Hedge Funds and Analyst Optimism

• المؤلف الرئيسي: TEO, Melvyn
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2010
• الموضوعات: Hedge funds; stock recommendations; stock performance; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/bnp_research/34; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1031&context=bnp_research

We find that analysts are more likely to issue favorable recommendations for stocks predominantly owned hedge funds. Moreover, these optimistic recommendations translate into poorer stock performance over the next three to six months. Hedge funds take advantage of these flattering reports by concurr...