Regulating Analysts: NASD Rule 2711's Impact on Market Reaction and Liquidity Changes Surrounding Coverage Initiations

• المؤلفون الرئيسيون: RANASINGHE, Tharindra, Sivaramakrishnan, K., Shroff, A.
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2012
• الموضوعات: Accounting; Corporate Finance
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/891; http://aaahq.org/AM2012/abstract.cfm?submissionID=959
• المؤسسة: Singapore Management University

We investigate the net effect of NASD Rule 2711 on information intermediary role of analysts by examining the market reaction and changes in liquidity surrounding coverage initiations in the pre- and post- regulation periods. This regulation was intended to eliminate conflict of interests faced by a...