Interest conflicts, stock recommendations and investor attention

被引：1

作者：

Lin, Mei-Chen ^{[1
]}

Wu, Yu-Zhen ^{[2
]}

机构：

[1] Natl Taipei Univ, Dept Business Adm, 151 Univ Rd, New Taipei 23741, Taiwan

[2] Natl Taipei Univ, Dept Business Adm, Taipei 23741, Taiwan

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2019年 / 65卷

关键词：

Investor attention; Stock recommendations; Conflicts of interest; OF-INTEREST; ANALYST; BEHAVIOR; BANKS;

D O I：

10.1016/j.irfa.2016.11.002

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper explores whether conflicts of interest between investors and investment banks are associated with investor attention. We find that analysts tend to issue positive recommendations about firms. However, analysts' recommendations do not align with their subsequent trades. Although conflicts of interest exist, they mainly occur on strong buy recommendations and firms that attract investor attention. Investment banks profit from strategically trading on their own recommended stocks that have high abnormal volume. (c) 2016 Published by Elsevier Inc.

引用

页数：10

共 50 条

[21] Investor attention, analyst recommendation revisions, and stock prices [J].

Welagedara, Venura ;

Deb, Saikat Sovan ;

Singh, Harminder .

PACIFIC-BASIN FINANCE JOURNAL, 2017, 45 :211-223

[22] Investor Attention and Stock Market Activities: New Evidence from Panel Data [J].

Padungsaksawasdi, Chaiyuth ;

Treepongkaruna, Sirimon ;

Brooks, Robert .

INTERNATIONAL JOURNAL OF FINANCIAL STUDIES, 2019, 7 (02)

[23] Investor Attention, Institutional Ownership, and Stock Return: Empirical Evidence from China [J].

Ying, Qianwei ;

Kong, Dongmin ;

Luo, Danglun .

EMERGING MARKETS FINANCE AND TRADE, 2015, 51 (03) :672-685

[24] Does investor attention influence water companies' stock returns? [J].

Pineiro-Chousa, Juan ;

Angeles Lopez-Cabarcos, M. ;

Ribeiro-Soriano, Domingo .

TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE, 2020, 158

[25] Investor Attention to Fossil Fuel Divestment Movement and Stock Returns [J].

El Ouadghiri, Imane ;

Gomes, Mathieu ;

Peillex, Jonathan ;

Pijourlet, Guillaume .

ENERGY JOURNAL, 2022, 43 (06) :285-308

[26] Measuring the effects of investor attention on China's stock returns [J].

Chen, Yi ;

Huang, Zhehao .

DATA SCIENCE IN FINANCE AND ECONOMICS, 2021, 1 (04) :327-344

[27] Investor attention on COVID-19 and African stock returns [J].

Iyke, Bernard Njindan ;

Ho, Sin-Yu .

METHODSX, 2021, 8

[28] The valuation effects of investor attention in stock-financed acquisitions [J].

Adra, Samer ;

Barbopoulos, Leonidas G. .

JOURNAL OF EMPIRICAL FINANCE, 2018, 45 :108-125

[29] Investor attention factors and stock returns: Evidence from China [J].

Dong, Dayong ;

Wu, Keke ;

Fang, Jianchun ;

Gozgor, Giray ;

Yan, Cheng .

JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY, 2022, 77

[30] Investor attention and stock returns: Evidence from Borsa Istanbul [J].

Tan, Selin Duz ;

Tas, Oktay .

BORSA ISTANBUL REVIEW, 2019, 19 (02) :106-116

← 1 2 3 4 5 →