Uncovering Expected Returns: Information in Analyst Coverage Proxies
نویسندگان
چکیده
منابع مشابه
Uncovering Expected Returns: Information in Analyst Coverage Proxies
This study demonstrates that standard analyst coverage proxies contain information about firm-level expected returns. I decompose analyst coverage proxies into abnormal and expected components using a simple characteristic-based model and show that firms with abnormally high coverage outperform firms with abnormally low coverage by approximately 80 basis points per month. Abnormal analyst cover...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2723439