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| Tekijä: | Kerl, A.G. Walter, A. |
| Otsikko: | Market responses to buy recommendations issued by personal finance magazines: Effects of information, price-pressure, and company characteristics |
| Lehti: | Review of finance
2007 : MAR, VOL. 11:1, p. 117-141 |
| Asiasana: | finance stock markets rate of return Germany |
| Vapaa asiasana: | magazines |
| Kieli: | eng |
| Tiivistelmä: | This paper analyzes explicit buy recommendations (hereafter as: recds.) for stocks published by German personal finance magazines during the period from 1995 to 2003. These recds. earn significant abnormal returns of 2.58 percent within the five days around the publication day. Both the price-pressure hypothesis and the information hypothesis can be confirmed by the data of this study etc. |
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