What value do stock analysts bring with their recommendations? : evidence from the US and the brazilian markets
This paper investigates the impact of changes in analysts’ recommendations on stock market prices over the 2006 – 2018 period, for two distinct markets. I find that, for the US market, both upgrades and downgrades generate abnormal returns on the day of the recommendation revision, with downgrades p...
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| Formato: | masterThesis |
| Idioma: | eng |
| Publicado em: |
2020
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| Texto completo: | http://hdl.handle.net/10400.14/29848 |
| País: | Portugal |
| Oai: | oai:repositorio.ucp.pt:10400.14/29848 |