LUI, DAPHNE; MARKOV, STANIMIR; TAMAYO, ANE - In: Journal of Accounting Research 45 (2007) 3, pp. 629-665
<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>We examine the determinants and the informativeness of financial analysts' risk ratings using a large sample of research reports issued by Salomon Smith Barney, now Citigroup, over the period 1997-2003. We find that the cross-sectional variation in risk ratings is largely explained by...