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The Real Effects of Financial Shocks: Evidence from Exogenous Changes in Analyst Coverage

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  • FRANÇOIS DERRIEN
  • AMBRUS KECSKÉS

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  • François Derrien & Ambrus Kecskés, 2013. "The Real Effects of Financial Shocks: Evidence from Exogenous Changes in Analyst Coverage," Journal of Finance, American Finance Association, vol. 68(4), pages 1407-1440, August.
  • Handle: RePEc:bla:jfinan:v:68:y:2013:i:4:p:1407-1440
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    Cited by:

    1. Hansen, Robert S., 2015. "What is the value of sell-side analysts? Evidence from coverage changes – A discussion," Journal of Accounting and Economics, Elsevier, vol. 60(2), pages 58-64.
    2. Billett, Matthew T. & Garfinkel, Jon A. & Yu, Miaomiao, 2017. "The effect of asymmetric information on product market outcomes," Journal of Financial Economics, Elsevier, vol. 123(2), pages 357-376.
    3. Oesch, David & Schuette, Dustin & Walter, Ingo, 2014. "Real Effects of Investment Banking Relationships: Evidence from the Financial Crisis," Working Papers on Finance 1405, University of St. Gallen, School of Finance, revised Aug 2015.
    4. repec:eee:ememar:v:32:y:2017:i:c:p:1-27 is not listed on IDEAS
    5. Bing Guo & David Pérez-Castrillo & Anna Toldrà-Simats, 2017. "Firms’ Innovation Strategy under the Shadow of Analyst Coverage," Working Papers 980, Barcelona Graduate School of Economics.
    6. Ergungor, Ozgur E. & Madureira, Leonardo & Nayar, Nandkumar & Singh, Ajai K., 2015. "Lending relationships and analysts’ forecasts," Journal of Financial Intermediation, Elsevier, vol. 24(1), pages 71-88.
    7. Chen, Tao & Harford, Jarrad & Lin, Chen, 2015. "Do analysts matter for governance? Evidence from natural experiments," Journal of Financial Economics, Elsevier, vol. 115(2), pages 383-410.
    8. repec:eee:revfin:v:33:y:2017:i:c:p:1-11 is not listed on IDEAS
    9. Qingbo Yuan & Yunyan Zhang & Steven Cahan, 2016. "The real effects of corporate fraud: evidence from class action lawsuits," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 56(3), pages 879-911, September.
    10. repec:eee:corfin:v:45:y:2017:i:c:p:84-103 is not listed on IDEAS
    11. Adhikari, Binay K., 2016. "Causal effect of analyst following on corporate social responsibility," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 201-216.
    12. repec:eee:jfinec:v:126:y:2017:i:1:p:74-96 is not listed on IDEAS
    13. repec:eee:jfinec:v:124:y:2017:i:2:p:223-243 is not listed on IDEAS
    14. Grout, Paul A. & Zalewska, Anna, 2016. "Stock market risk in the financial crisis," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 326-345.
    15. Derrien, François & Kecskés, Ambrus & Mansi, Sattar A., 2016. "Information asymmetry, the cost of debt, and credit events: Evidence from quasi-random analyst disappearances," Journal of Corporate Finance, Elsevier, vol. 39(C), pages 295-311.
    16. repec:uts:finphd:34 is not listed on IDEAS
    17. Loh, Roger & Stulz, Rene M., 2013. "Is Sell-Side Research More Valuable in Bad Times?," Working Paper Series 2013-19, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    18. Allen, Arthur & Francis, Bill B. & Wu, Qiang & Zhao, Yijiang, 2016. "Analyst coverage and corporate tax aggressiveness," Journal of Banking & Finance, Elsevier, vol. 73(C), pages 84-98.
    19. Dennis, Patrick J. & Sandås, Patrik, 2014. "Does Trading Anonymously Enhance Liquidity?," Working Paper Series 288, Sveriges Riksbank (Central Bank of Sweden).
    20. Sung Hwan Jung, 2016. "Audit Effort and Market-perceived Risk: Evidence from South Korea," Australian Accounting Review, CPA Australia, vol. 26(3), pages 255-270, September.
    21. repec:eee:jaecon:v:63:y:2017:i:2:p:179-206 is not listed on IDEAS
    22. Larry Fauver & Gilberto Loureiro, "undated". "Equity Offerings, Stock Price Crash Risk, and the Impact of Securities Regulation: International Evidence," NIPE Working Papers 14/2015, NIPE - Universidade do Minho.
    23. Chu, Yongqiang, 2016. "Debt renegotiation and debt overhang: Evidence from lender mergers," MPRA Paper 72403, University Library of Munich, Germany.

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