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The Influence of Investment Banks Reports on the Key Indicator of the Stock Market


Anastasiya Pogozheva
(about the author)

Pogozheva Anastasiya Andreevna – Postgraduate Student of the National Research University “Higher School of Economics”

Published in:
Russian Journal of Entrepreneurship
– № 21 / November, 2012



Keywords: analyst recommendations, conflict of interest, investment banks, stock market, trading volume, valuation of shares


Citation:
Anastasiya Pogozheva (2012). The Influence of Investment Banks Reports on the Key Indicator of the Stock Market. Russian Journal of Entrepreneurship, 13(21), 82-87. — url: http://bgscience.ru/com/lib/3881


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Abstract:

In the article the main approaches of the investment analyst to the valuation of the influence on quotations and trading securities volumes. For this purpose the valuation of information and investment importance of research reports is made, and the marketing part of published materials is regarded.








References:
1. Barber, B., Lehavy, R., McNichols, M., and Trueman, B., 2001. Can investors profit from the prophets? Security analyst recommendations and stock returns. Journal of Finance 56, 531−563.
2. Cervellati, E.M., Della Bina, A.C.F., and Giulianelli, S., 2005. Financial Analysts: Market Reaction to Recommendation Changes. Working paper
3. Jegadeesh, N., Kim, J., Krische, S., and Lee, C., 2004. Analyzing the analysts: When do recommendations add value? Journal of Finance 59, 1083–1124.
4. Jegadeesh, N., and Kim, W., 2006. Value of analyst recommendations: International evidence. Journal of Financial Markets 9, 274−309.
5. Pratt, T., 1993. Wall Street’s four-letter word. Investment Dealers Digest, March, 18−22.
6. Womack, K., 1996. Do brokerage analysts’ recommendations have investment value? Journal of Finance 51, 137–167.

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