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

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  • Cornett, Marcia Millon
  • Tehranian, Hassan
  • Yalcin, Atakan
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    File URL: http://www.sciencedirect.com/science/article/B6VCY-4KH47SM-3/2/b6f162357995d0e5e11122feaf7d479b
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Banking & Finance.

    Volume (Year): 31 (2007)
    Issue (Month): 3 (March)
    Pages: 567-588

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    Handle: RePEc:eee:jbfina:v:31:y:2007:i:3:p:567-588

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    1. Michaely, Roni & Womack, Kent L, 1999. "Conflict of Interest and the Credibility of Underwriter Analyst Recommendations," Review of Financial Studies, Society for Financial Studies, Society for Financial Studies, vol. 12(4), pages 653-86.
    2. Jorion, Philippe & Liu, Zhu & Shi, Charles, 2005. "Informational effects of regulation FD: evidence from rating agencies," Journal of Financial Economics, Elsevier, Elsevier, vol. 76(2), pages 309-330, May.
    3. Warren Bailey & Haitao Li & Connie X. Mao & Rui Zhong, 2003. "Regulation Fair Disclosure and Earnings Information: Market, Analyst, and Corporate Responses," Journal of Finance, American Finance Association, American Finance Association, vol. 58(6), pages 2487-2514, December.
    4. Healy, Paul M. & Palepu, Krishna G., 2001. "Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 31(1-3), pages 405-440, September.
    5. Lin, Hsiou-wei & McNichols, Maureen F., 1998. "Underwriting relationships, analysts' earnings forecasts and investment recommendations," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 25(1), pages 101-127, February.
    6. Kent Daniel & David Hirshleifer & Avanidhar Subrahmanyam, 1998. "Investor Psychology and Security Market Under- and Overreactions," Journal of Finance, American Finance Association, American Finance Association, vol. 53(6), pages 1839-1885, December.
    7. Zitzewitz, Eric, 2001. "Measuring Herding and Exaggeration by Equity Analysts and Other Opinion Sellers," Research Papers 1802, Stanford University, Graduate School of Business.
    8. Krigman, Laurie & Shaw, Wayne H. & Womack, Kent L., 2001. "Why do firms switch underwriters?," Journal of Financial Economics, Elsevier, Elsevier, vol. 60(2-3), pages 245-284, May.
    9. Gintschel, Andreas & Markov, Stanimir, 2004. "The effectiveness of Regulation FD," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 37(3), pages 293-314, September.
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    Cited by:
    1. de Jong, Pieter J. & Apilado, Vince P., 2009. "The changing relationship between earnings expectations and earnings for value and growth stocks during Reg FD," Journal of Banking & Finance, Elsevier, Elsevier, vol. 33(2), pages 435-442, February.
    2. Anolli, Mario & Beccalli, Elena & Molyneux, Philip, 2014. "Bank earnings forecasts, risk and the crisis," Journal of International Financial Markets, Institutions and Money, Elsevier, Elsevier, vol. 29(C), pages 309-335.
    3. Autore, Don M. & Kovacs, Tunde & Sharma, Vivek, 2009. "Do analyst recommendations reflect shareholder rights?," Journal of Banking & Finance, Elsevier, Elsevier, vol. 33(2), pages 193-202, February.
    4. Henderson, Brian J. & Marks, Joseph M., 2013. "Predicting forecast errors through joint observation of earnings and revenue forecasts," Journal of Banking & Finance, Elsevier, Elsevier, vol. 37(11), pages 4265-4277.
    5. repec:eme:mfipps:v:36:y:2010:i:3:p:380-402 is not listed on IDEAS

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