Schlumpf, Philipp M.; Schmid, Markus M.; Zimmermann, Heinz - Wirtschaftswissenschaftliches Zentrum, Universität Basel - 2006
This paper empirically investigates the impact of both the first release of analysts' stock recommendations to a limited clientele and the subsequent dissemination of the same information in a major newspaper to a broader audience. For a sample of 1460 stock recommendations published in FuW,...