Please use this identifier to cite or link to this item: https://doi.org/10.1111/j.1467-629X.2006.00209.x
Title: Initiating coverage, broker reputation and management earnings forecasts in Australia
Authors: Brown, R.
Chan, H.W.H.
Kee Ho, Y. 
Keywords: Analyst coverage
Broker recommendations
Broker reputation
Management earnings forecasts
Issue Date: 2007
Source: Brown, R., Chan, H.W.H., Kee Ho, Y. (2007). Initiating coverage, broker reputation and management earnings forecasts in Australia. Accounting and Finance 47 (3) : 401-421. ScholarBank@NUS Repository. https://doi.org/10.1111/j.1467-629X.2006.00209.x
Abstract: We examine more than 5000 recommendations made by Australian brokers in the period 1996-2001. We find evidence that initiating recommendations produce greater share price responses than continuing recommendations, particularly for hold, underperform and sell recommendations. We also find evidence that initiating recommendations made by higher-reputation brokers and those made in the absence of a management earnings forecast attract different share price responses. Finally, we find that share price responses to initiating recommendations, conditional on the market consensus recommendation, are significantly different to continuing recommendations. © 2007 AFAANZ.
Source Title: Accounting and Finance
URI: http://scholarbank.nus.edu.sg/handle/10635/44488
ISSN: 08105391
DOI: 10.1111/j.1467-629X.2006.00209.x
Appears in Collections:Staff Publications

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