Firm-specific information, analysts’ superiority and investment value
Using a sample of Chinese security analysts’ recommendations from 2005 to 2010, we examine the source of analysts’ superiority and the investment value of their recommendations. Using a calendar-time portfolio approach, we find that, on average, analysts’ recommendations are valuable and that analys...
Main Authors: | Lu Li, Erjia Yang, Tusheng Xiao |
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Format: | Article |
Language: | English |
Published: |
Elsevier
2014-12-01
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Series: | China Journal of Accounting Research |
Subjects: | |
Online Access: | http://www.sciencedirect.com/science/article/pii/S1755309114000367 |
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