Market response to analyst recommendations in the "dartboard" column: The information and price-pressure effects

Review of Financial Economics

Volumn 5, Issue 1, 1996, Pages 59-74

  Albert Jr , Robert L ^a   Smaby, Timothy R ^b  

^a MOREHEAD STATE UNIVERSITY   (United States)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0030529197     PISSN: 10583300     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1058-3300(96)90006-3     Document Type: Article

References (14)

1. Ajinkya B.B., Jain P.C. The Behavior of Daily Stock Market Trading Volume. Journal of Accounting and Economics. 11:1989;331-359.
2. Barber B.M., Loeffler D. The "Dartboard" Column: Second-Hand Information and Price Pressure. Journal of Financial and Quantitative Analysis. 28:1993;273-284. (June).
3. Beneish M.D. Stock Prices and the Dissemination of Analysts' Recommendations. Journal of Business. 64:1991;393-416. (July).
4. Copeland T.E., Mayers D. The Value Line Enigma (1965-1978): A Case Study of Performance Evaluation Issues. Journal of Financial Economics. 10:1982;289-322. (November).
5. Glascock J.L., Henderson G.V., Martin L.J. When E.F. Hutton Talks... Financial Analysts Journal. 42:1986;69-72. (May/June).
6. Huth W.L., Maris B.A. Large and Small Firm Stock Price Response to 'Heard on the Street' Recommendations. Journal of Accounting, Auditing and Finance. 7:1992;27-44.
7. Karafiath I., Spencer D.E. Statistical Inference in Multiperiod Event Studies. Review of Quantitative Finance and Accounting. 1:1991;353-371. (Fall).
8. Liu P., Smith S.D., Syed A.A. Stock Price Reactions to The Wall Street Journal's Securities Recommendations. Journal of Financial and Quantitative Analysis. 25:1990;399-410. (September).
9. Liu P., Smith S.D., Syed A.A. The Impact of the Insider Trading Scandal on the Information Content of The Wall Street Journal's 'Heard on the Street' Column. Journal of Financial Research. 15:1990;181-188. (Summer).
10. Lloyd-Davies P., Canes M. Stock Prices and the Publication of Second-Hand Information. Journal of Business. 51:1978;43-56. (January).
11. Stickel S.E. The Effect of Value Line Investment Survey Rank Changes on Common Stock Prices. Journal of Financial Economics. 14:1985;121-143. (March).
12. Stickel S.E. The Effect of Preferred Stock Rating Changes on Preferred and Common Stock Prices. Journal of Accounting and Economics. 8:1986;187-215.
13. Stickel S.E. Reputation and Performance Among Security Analysts. Journal of Finance. 47:1992;1811-1836. (December).
14. Syed A.A., Liu P., Smith S.D. The Exploitation of Inside Information at The Wall Street Journal: A Test of Strong Form Efficiency. The Financial Review. 24:1989;567-579. (November).