| Author: | Peterson, D. |
| Title: | The informative role of the value line investment survey: evidence from stock highlights |
| Journal: | Journal of Financial and Quantitative Analysis
1995 : DEC, VOL. 30:4, p. 607-618 |
| Index terms: | ECONOMICS INVESTMENT INFORMATION |
| Language: | eng |
| Abstract: | The author examines abnormal stock returns associated with "stock highlights" published by the Value Line Investment Survey. At the time of their publication, stock highlights elicit strong positive abnormal returns. They also have positive abnormal returns at the time of the earnings announcement preceding stock highlight publications. Post-earnings announcement drift is present, but is much too small to explain abnormal returns at the time of the publication of stock highlights, claims the author. |
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