메뉴 건너뛰기




Volumn 31, Issue 3, 2007, Pages 567-588

Regulation fair disclosure and the market's reaction to analyst investment recommendation changes

Author keywords

Analyst recommendations; Investment banking; Regulation fair disclosure

Indexed keywords


EID: 33847155483     PISSN: 03784266     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbankfin.2005.12.009     Document Type: Article
Times cited : (34)

References (23)
  • 1
    • 33847104826 scopus 로고    scopus 로고
    • Agrawal, A., Chen, M., 2004. Analyst conflicts and research quality. University of Alabama Working Paper.
  • 2
    • 0345447646 scopus 로고    scopus 로고
    • Regulation fair disclosure and earnings information: market, analyst, and corporate responses
    • Bailey W., Li H., Mao C.X., and Zhong R. Regulation fair disclosure and earnings information: market, analyst, and corporate responses. Journal of Finance 58 (2003) 2487-2514
    • (2003) Journal of Finance , vol.58 , pp. 2487-2514
    • Bailey, W.1    Li, H.2    Mao, C.X.3    Zhong, R.4
  • 3
    • 8744258405 scopus 로고    scopus 로고
    • Investor psychology and security market under- and overreactions
    • Daniel K., Hirshleifer D., and Subrahmanyam A. Investor psychology and security market under- and overreactions. The Journal of Finance 53 6 (1998) 1839-1883
    • (1998) The Journal of Finance , vol.53 , Issue.6 , pp. 1839-1883
    • Daniel, K.1    Hirshleifer, D.2    Subrahmanyam, A.3
  • 4
    • 0003188650 scopus 로고    scopus 로고
    • The relation between analysts' forecasts of long-term earnings growth and stock price performance following equity offerings
    • Dechow P.M., Hutton A.P., and Sloan R.G. The relation between analysts' forecasts of long-term earnings growth and stock price performance following equity offerings. Contemporary Accounting Research 17 (2000) 1-32
    • (2000) Contemporary Accounting Research , vol.17 , pp. 1-32
    • Dechow, P.M.1    Hutton, A.P.2    Sloan, R.G.3
  • 5
    • 84984198819 scopus 로고
    • The effect of investment banking relationships on financial analysts' earnings forecasts and investment recommendations
    • Dugar A., and Nathan S. The effect of investment banking relationships on financial analysts' earnings forecasts and investment recommendations. Contemporary Accounting Research 12 (1995) 131-160
    • (1995) Contemporary Accounting Research , vol.12 , pp. 131-160
    • Dugar, A.1    Nathan, S.2
  • 6
    • 33847152788 scopus 로고    scopus 로고
    • Ferreira, E.J., Smith, S.D. 2003. The effect of regulation FD on analysts' recommendations. Working Paper.
  • 9
    • 0012319054 scopus 로고    scopus 로고
    • Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature
    • Healy P.M., and Palepu K.G. Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of Accounting and Economics 31 (2001) 405-440
    • (2001) Journal of Accounting and Economics , vol.31 , pp. 405-440
    • Healy, P.M.1    Palepu, K.G.2
  • 10
    • 0037289352 scopus 로고    scopus 로고
    • Regulation FD and the financial information environment: Early evidence
    • Heflin F., Subramanyam K.R., and Zhang Y. Regulation FD and the financial information environment: Early evidence. The Accounting Review 78 (2003) 1-37
    • (2003) The Accounting Review , vol.78 , pp. 1-37
    • Heflin, F.1    Subramanyam, K.R.2    Zhang, Y.3
  • 11
    • 33847137505 scopus 로고    scopus 로고
    • Heflin, F., Subramanyam, K.R., Zhang, Y. 2003b. Stock return volatility before and after regulation FD. University of Southern California Working Paper.
  • 12
    • 21844495919 scopus 로고
    • Investor reactions to financial analysts' research reports
    • Hirst D.E., Koonce L., and Simko P.J. Investor reactions to financial analysts' research reports. Journal of Accounting Research 33 2 (1995) 335-351
    • (1995) Journal of Accounting Research , vol.33 , Issue.2 , pp. 335-351
    • Hirst, D.E.1    Koonce, L.2    Simko, P.J.3
  • 13
    • 33847157648 scopus 로고    scopus 로고
    • Irani, A.J., Karamanou, I., 2004. Regulation Fair Disclosure, Analyst Following and Analyst Forecast Dispersion, Accounting Horizons, forthcoming.
  • 14
    • 33847149040 scopus 로고    scopus 로고
    • Iskoz, S., 2004. Bias in underwriter analyst recommendations: Does it matter? MIT Working Paper.
  • 15
    • 16844367658 scopus 로고    scopus 로고
    • Informational effects of regulation fd: evidence from rating agencies
    • Jorion P., Liu Z., and Shi C. Informational effects of regulation fd: evidence from rating agencies. Journal of Financial Economics 76 (2005) 309-330
    • (2005) Journal of Financial Economics , vol.76 , pp. 309-330
    • Jorion, P.1    Liu, Z.2    Shi, C.3
  • 17
    • 0001250001 scopus 로고    scopus 로고
    • Underwriting relationships, analysts' earnings forecasts and investment recommendations
    • Lin H., and McNichols M.F. Underwriting relationships, analysts' earnings forecasts and investment recommendations. Journal of Accounting and Economics 25 (1998) 101-127
    • (1998) Journal of Accounting and Economics , vol.25 , pp. 101-127
    • Lin, H.1    McNichols, M.F.2
  • 18
    • 0033442404 scopus 로고    scopus 로고
    • Conflict of interest and the credibility of underwriter analysts recommendations
    • Michaely R., and Womack K.L. Conflict of interest and the credibility of underwriter analysts recommendations. Review of Financial Studies 12 (1999) 653-686
    • (1999) Review of Financial Studies , vol.12 , pp. 653-686
    • Michaely, R.1    Womack, K.L.2
  • 19
    • 33847093573 scopus 로고    scopus 로고
    • Mohanram, P.S., Sunder, S.V., 2003. How has regulation fair disclosure affected the functioning of financial analysts? Working Paper.
  • 21
    • 0011183261 scopus 로고    scopus 로고
    • Do brokerage analysts' recommendations have investment value?
    • Womack K.L. Do brokerage analysts' recommendations have investment value?. Journal of Finance 51 (1996) 137-167
    • (1996) Journal of Finance , vol.51 , pp. 137-167
    • Womack, K.L.1
  • 22
    • 33847110923 scopus 로고    scopus 로고
    • Zitzewitz, E., 2001. Measuring exaggeration by analysts. Stanford University Working Paper.
  • 23
    • 33847174803 scopus 로고    scopus 로고
    • Zitzewitz, E., 2002. Regulation fair disclosure and the private information of analysts. Stanford University Working Paper.


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.