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Stock Prices and Financial Analysts' Recommendations
Author(s) -
BJERRING JAMES H.,
LAKONISHOK JOSEF,
VERMAELEN THEO
Publication year - 1983
Publication title -
the journal of finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 18.151
H-Index - 299
eISSN - 1540-6261
pISSN - 0022-1082
DOI - 10.1111/j.1540-6261.1983.tb03634.x
Subject(s) - stock (firearms) , business , finance , financial economics , economics , monetary economics , geography , archaeology
The recommendations of a Canadian brokerage house are evaluated by a number of techniques. The results reveal that an investor following the recommendations would have achieved significantly positive abnormal returns, even after allowing for transactions cost.