Bradley, Daniel; Clarke, Jonathan; Cooney, John - In: Journal of Banking & Finance 36 (2012) 8, pp. 2190-2202
-buy recommendations while unaffiliated all-star analysts from low reputation banks do not change their level of optimism. In contrast …, unaffiliated non-star analysts from both high and low reputation banks issue more strong-buy recommendations. Consistent with the … results on analyst optimism, the market reacts more favorably to strong-buy recommendations by unaffiliated all-star analysts …