Is sell-side research more valuable in bad times?
Because uncertainty is high in bad times, investors find it harder to assess firm prospects and, hence, should value analyst output more. However, higher uncertainty makes analysts’ tasks harder so it is unclear if analyst output is more valuable in bad times. We find that, in bad times, analyst rev...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2018
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| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/5143 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6142/viewcontent/SSRN_id2368329_newPrePublicationVersion2.pdf https://ink.library.smu.edu.sg/context/lkcsb_research/article/6142/filename/0/type/additional/viewcontent/Internet_Appendix_LohStulz_Mar2017.pdf |
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| Institution: | Singapore Management University |
| Language: | English |