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Impact of Analysts' Recommendations on Stock Performance

Author

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  • Valentyn Panchenko

Abstract

This paper examines the effect of analysts' recommendations on stock return, volume and volatility. The study covers a sample of 36 large cap stocks traded on the US stock market over the period June 1997-May 2003. The empirical evidence suggests a significant impact of analysts' recommendations on the stock market. The research considers market microstructure and looks at the motivation and behaviour of analysts.

Suggested Citation

  • Valentyn Panchenko, 2007. "Impact of Analysts' Recommendations on Stock Performance," The European Journal of Finance, Taylor & Francis Journals, vol. 13(2), pages 165-179.
    • Handle: RePEc:taf:eurjfi:v:13:y:2007:i:2:p:165-179
    DOI: 10.1080/13518470500459782
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    Cited by:

    1. Liyan Han & Xinbei Wei & Sen Yan & Qunzi Zhang, 2022. "Analyst rating matters for index futures," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 42(11), pages 2084-2100, November.
    2. Corbet, Shaen & Dowling, Michael & Cummins, Mark, 2015. "Analyst recommendations and volatility in a rising, falling, and crisis equity market," Finance Research Letters, Elsevier, vol. 15(C), pages 187-194.

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