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| Author: | Asquith, P. Mikhail, M. B. Au, A. S. |
| Title: | Information content of equity analyst reports |
| Journal: | Journal of Financial Economics
2005 : FEB, VOL. 75:2, p. 245-282 |
| Index terms: | Investments Market information |
| Language: | eng |
| Abstract: | This article examines the market reaction to the release of Institutional Investor, All-American analyst reports. In some models, including the justifications supporting an analysts opinion reduces or eliminates the significance of earnings forecasts and recommendation revisions. Analysts provide both new information and interpret previously released information. The information in a report is most important for downgrades. |
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