Time to payoff: Efficacy of analyst recommendations in the Indian stock market
Abnormal excess returns are often used to measure the profitability of analyst recommendations. We study the liquidity of recommended strategies, by modelling the time to payoff. Using an event study methodology, we find that target prices are reached in about 43% of 392 technical calls and 52% of 2...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2020-06-01
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| Series: | IIMB Management Review |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S0970389617301751 |