search query: @author Schmid, M.M. / total: 3
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| Author: | Schlumpf, P.M. Schmid, M.M. Zimmermann, H. |
| Title: | The first- and second-hand effect of analysts' stock recommendations: Evidence from the Swiss stock market |
| Journal: | European Financial Management
2008 : NOV, VOL. 14:5, p. 962-988 |
| Index terms: | stock markets securities trading information Switzerland |
| Language: | eng |
| Abstract: | This paper empirically examines the impact of i. the first release of analysts' stock recommendations to a limited clientele and ii. the subsequent dissemination of the same information through a major newspaper to a broader audience. Based on a sample of more than 1.400 stock recommendations published in a Switzerland's major financial newspaper (FuW), significant positive abnormal returns are found on the day of the original release of buy recommendations and on the day of publication (in FuW) etc. |
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