After the completion of an M&A transaction, the target firm is delisted but some analysts who covered it retain coverage of the merged firm. We hypothesize that this decision is based on two factors — the analyst's ability to cover the merged firm and his or her assessment of the M&A deal....

Investment bankers focus on narrow, industry-based peer groups for individual stock valuation. And some market-neutral equity hedge fund managers restrict their portfolios to be sector-neutral as well. Yet, academic research into contrarian strategy investment performance has typically invoked...

Regulation FD made analysts less dependent on insider information and diminished analysts' motives to inflate their forecasts. The Global Research Analyst Settlement had an even bigger impact on analyst behavior: The mean forecast bias declined significantly, whereas the median forecast bias...

We examine the spillover effects of the Global Analyst Research Settlement (or Global Settlement) on analysts' earnings forecasts in 40 developed and emerging markets. Prior to the Global Settlement, analysts generally made overly optimistic forecasts, this bias tending to be higher in countries...