Institutional holdings and analysts’ stock recommendations

• المؤلفون الرئيسيون: CHENG, Qiang, CHEN, Xia
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2006
• الموضوعات: Financial analysts; institutional trading; stock recommendations; Accounting; Corporate Finance
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/828; https://ink.library.smu.edu.sg/context/soa_research/article/1827/viewcontent/SSRN_id309842.pdf

Prior studies document that institutional investors outperform the mar- ket. We investigate whether this superior performance is partly derived from institutional investors use of sell-side analysts stock recommenda- tions. First, we find that the quarterly change in institutional ownership is posit...