An Empirical Study of the Performance of the Analyst Recommendations
碩士 === 國立中興大學 === 會計學系 === 85 === This paper investigates the performance of the analyst recommendaitons in Sunday''s United Evening News, and also examines the correlation betweenthe votes and the performace. Market Model is used to calculate...
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ndltd-TW-085NCHU13850062015-10-13T12:15:17Z http://ndltd.ncl.edu.tw/handle/23133746906413602950 An Empirical Study of the Performance of the Analyst Recommendations 分析師票選股票績效之實證研究 Ma, Jo-Chuan 馬若荃 碩士 國立中興大學 會計學系 85 This paper investigates the performance of the analyst recommendaitons in Sunday''s United Evening News, and also examines the correlation betweenthe votes and the performace. Market Model is used to calculate abnormal returns. The t-test and sign-testare used to perform the analysis. Pearson''s Product Moment Correlation andSpearman''s Rank-Order Correlation are used to test the correlation betweenthe votes and the performace. The empirical results indicate the following:1.The recommended stocks have an excellent performance prior to publicationday; however,the stock price appears to reverse after publication day.2.After publication day,there exists a negative correlation between the votesand the performace; that is,the higher the votes are ,the worse the performaceis. Chang Chung-Yueh 張仲岳 1997 學位論文 ; thesis 85 zh-TW |
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碩士 === 國立中興大學 === 會計學系 === 85 === This paper investigates the performance of the analyst
recommendaitons in Sunday''s United Evening News, and also
examines the correlation betweenthe votes and the performace.
Market Model is used to calculate abnormal returns. The t-test
and sign-testare used to perform the analysis. Pearson''s Product
Moment Correlation andSpearman''s Rank-Order Correlation are used
to test the correlation betweenthe votes and the performace.
The empirical results indicate the following:1.The recommended
stocks have an excellent performance prior to publicationday;
however,the stock price appears to reverse after publication
day.2.After publication day,there exists a negative correlation
between the votesand the performace; that is,the higher the
votes are ,the worse the performaceis.
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author2 |
Chang Chung-Yueh |
author_facet |
Chang Chung-Yueh Ma, Jo-Chuan 馬若荃 |
author |
Ma, Jo-Chuan 馬若荃 |
spellingShingle |
Ma, Jo-Chuan 馬若荃 An Empirical Study of the Performance of the Analyst Recommendations |
author_sort |
Ma, Jo-Chuan |
title |
An Empirical Study of the Performance of the Analyst Recommendations |
title_short |
An Empirical Study of the Performance of the Analyst Recommendations |
title_full |
An Empirical Study of the Performance of the Analyst Recommendations |
title_fullStr |
An Empirical Study of the Performance of the Analyst Recommendations |
title_full_unstemmed |
An Empirical Study of the Performance of the Analyst Recommendations |
title_sort |
empirical study of the performance of the analyst recommendations |
publishDate |
1997 |
url |
http://ndltd.ncl.edu.tw/handle/23133746906413602950 |
work_keys_str_mv |
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