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| Tekijä: | Desai, H. Liang, B. Singh, A. |
| Otsikko: | Do all-stars shine? Evaluation of analyst recommendations |
| Lehti: | Financial Analysts' Journal
2000 : MAY/JUN, VOL. 56:3, p. 20-29 |
| Asiasana: | EVALUATION SETS INDUSTRIES |
| Kieli: | eng |
| Tiivistelmä: | Using a unique data set, the authors studied the performance of stock recommendations made by Wall Street Journal all-star analysts. The authors document that stocks recommended by the all-star analysts outperform benchmarks controlled for size and industry. Stocks recommended by analysts who focus on a single industry outperform those recommended by analysts covering multiple industries. The authors also document a herding behavior among analysts in an industry. |
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