MARC details
| 000 -LEADER |
|---|
| fixed length control field |
01943nam a22002657a 4500 |
| 003 - CONTROL NUMBER IDENTIFIER |
|---|
| control field |
ZW-GwMSU |
| 005 - DATE AND TIME OF LATEST TRANSACTION |
|---|
| control field |
20241127092807.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
241127b |||||||| |||| 00| 0 eng d |
| 022 ## - INTERNATIONAL STANDARD SERIAL NUMBER |
|---|
| International Standard Serial Number |
0312-8962 |
| 040 ## - CATALOGING SOURCE |
|---|
| Original cataloging agency |
MSU |
| Language of cataloging |
English |
| Transcribing agency |
MSU |
| Description conventions |
rda |
| 050 00 - LIBRARY OF CONGRESS CALL NUMBER |
|---|
| Classification number |
HD31 AUS |
| 100 1# - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Lepone, Andrew |
| Relator term |
author |
| 245 10 - TITLE STATEMENT |
|---|
| Title |
Unequal access to analyst research |
| Statement of responsibility, etc. |
created by Andrew Lepone, Henry Leung, and J George Li |
| 264 1# - PRODUCTION, PUBLICATION, DISTRIBUTION, MANUFACTURE, AND COPYRIGHT NOTICE |
|---|
| Place of production, publication, distribution, manufacture |
Los Angeles: |
| Name of producer, publisher, distributor, manufacturer |
Sage, |
| Date of production, publication, distribution, manufacture, or copyright notice |
2013. |
| 336 ## - CONTENT TYPE |
|---|
| Source |
rdacontent |
| Content type term |
text |
| Content type code |
txt |
| 337 ## - MEDIA TYPE |
|---|
| Source |
rdamedia |
| Media type term |
unmediated |
| Media type code |
n |
| 338 ## - CARRIER TYPE |
|---|
| Source |
rdacarrier |
| Carrier type term |
volume |
| Carrier type code |
nc |
| 440 ## - SERIES STATEMENT/ADDED ENTRY--TITLE |
|---|
| Title |
Australian journal of management |
| Volume/sequential designation |
Volume 38, number 2 |
| 520 3# - SUMMARY, ETC. |
|---|
| Summary, etc. |
This study examines the relationship between equity analysts and information asymmetry, and the extent of leakages in analyst recommendations. Literature suggests that analysts reduce information asymmetry by bringing privately held information to the market, and through superior analysis of publicly available information. However, we find that investor access to analyst reports is far from even, and show evidence consistent with the leakage of analyst recommendations. We find that leakages provide annualised cumulative abnormal returns of approximately 6.30% for upgrades and 12.53% for downgrades over a four-week period, after a generous provision of 1% (round trip) for transaction costs. In our examination of broker/analyst size, we find evidence of greater leakage from the smaller brokers on stock downgrades, but not upgrades. We suggest that smaller brokers are less likely to have an established relationship with company management, are less reliant on them as a source of future information, and are therefore less hesitant to leak downgrades. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Equity analysts |
| Form subdivision |
Information asymmetry |
| General subdivision |
Information leakage |
| 700 1# - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Leung, Henry |
| Relator term |
co-author |
| 700 1# - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Li, J George |
| Relator term |
co-author |
| 856 ## - ELECTRONIC LOCATION AND ACCESS |
|---|
| Uniform Resource Identifier |
https://doi.org/10.1177/0312896212446997 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Source of classification or shelving scheme |
Library of Congress Classification |
| Koha item type |
Journal Article |