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Regulating the financial analysis industry : Is the European Directive effective ?

Author

Listed:
  • M. Dubois

    (Institut d'analyse financière - UNINE - Université de Neuchâtel = University of Neuchatel)

  • Pascal Dumontier

    (CERAG - Centre d'études et de recherches appliquées à la gestion - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

Abstract

In the recent years, the US and the EC have witnessed the adoption of new regulations focused on financial analysts. This study investigates whether the European regulations, known as the Market Abuse Directive (MAD) changed the distribution of recommendations and increased their credibility...

Suggested Citation

  • M. Dubois & Pascal Dumontier, 2009. "Regulating the financial analysis industry : Is the European Directive effective ?," Post-Print halshs-00533084, HAL.
    • Handle: RePEc:hal:journl:halshs-00533084
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00533084v1
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    References listed on IDEAS

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    1. Patricia C. O'Brien & Maureen F. Mcnichols & Lin Hsiou‐Wei, 2005. "Analyst Impartiality and Investment Banking Relationships," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 43(4), pages 623-650, September.
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