Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《Collected Essays on Finance and Economics》 2008-04
Add to Favorite Get Latest Update

Study of the Recommending Effect of the Securities Analyst on market

XU Li-ping,LIU Jian-he(Finance School,Zhejiang University of Finance and Economics,Hangzhou 310018,China)  
In the paper,we use the long-term recommended stocks' statistical data of the column " Stocks which the analysts are the most optimistic about this week " on the Shanghai securities news every monday,to make an empirical study on the non-normal yield and turnover about the influence of the analysts' recommendation to the A-share market.The empirical results found that the recommendation of the analysts is significantly influenced by the entire development of the market while it only has a short-term effect on price,but the impact of the recommendation on price is also tiny.
【Fund】: 浙江省教育厅科研基金资助项目(20051531)
【CateGory Index】: F832.51
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
【Citations】
Chinese Journal Full-text Database 7 Hits
1 TANG Jun,SHONG Feng-ming (School of Economics and Management,Qinghua University,Beijing 100084,China);On Analysis of Selecting Stocks' Prediction of the Recommendation[J];Collected Essays on Finance and Economics;2002-01
2 XU Su,ZENG Yong (School of Management Science, Univ. of Electron. Sci. & Tech. of China Chengdu 610054);An Empirical Study on the Performance of Analysts’ Recommendation[J];Journal of University of Electronic Science and Technology of China;2006-04
3 Chen Hanwen & Chen Xiangmin (Department of Accounting, Xiamen University);Event Response to Securities Price[J];Economic Research Journal;2002-01
4 Gao Feng & Song Fengming (School of Economics and Management, Tsinghua University);Test on Rational Expectation Hypothesis in China Stock Market[J];Economic Research Journal;2003-03
5 Zhu Hongjun He Xianjie Tao Lin;Can Securities Analysts Improve the Efficiency of Capital Market in China[J];Journal of Financial Research;2007-02
6 LI Kun(School of Business Administration, Sichuan University, Chengdu 610064, China);An Empirical Study of Stock Recommendations by Experts[J];Journal of Sichuan University(Social Science Edition);2003-03
7 WANG Yu-xi~(1,2),XIAO Jun~1,CHEN Wei-zhong~1 (1.School of Economics & Management,Tongji University,Shanghai 200092,China;2.School of Management,Shanghai University of Engineering Science,Shanghai 200620,China);Empirical Research on Investment Value of Securities Analysts' Recommendation——Evidence from Shenyin Wanguo Securities Research Institute[J];Journal of China University of Mining & Technology;2006-02
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 Jin Zhuang Jiang Rui(Finance Department East China Normal University,Shanghai 200062,China);On State Share's Repurchase of Stock Companies in China[J];Journal of Beijing University of Chemical Technology(Social Sciences Edition);2003-03
2 XIAO Shu-fang, LI Yang(Beijing Institute of Technology, Beijing 100081);On the Relativity of the Major Information Revelation of the On-market Companies and the Unusual Stock Fluctuation[J];Journal of Beijing Institute of Technology(Social Sciences Edition);2004-06
3 Ma Junlu1 Wu Yue2;The Effect of Financial Regulation Policies on Real Estate Industry[J];Finance & Economics;2008-02
4 TANG Jun,SHONG Feng-ming (School of Economics and Management,Qinghua University,Beijing 100084,China);On Analysis of Selecting Stocks' Prediction of the Recommendation[J];Collected Essays on Finance and Economics;2002-01
5 ZHANG Mei-xia(College of International Finance and Commerce,Shanghai InternationalStudies University,Shanghai 200083,China);Research on the Turnover of Fund Managers:Empirical Evidence from Chinese Capital Market[J];Journal of Finance and Economics;2007-12
6 ZHU Hong-jun1,HE Xian-jie2,TAO Lin3(1.Institute of Accounting and Finance,Shanghai University of Finance and Economics,Shanghai 200433,China;2.School of Accountancy,Shanghai University of Finance and Economics,Shanghai 200433,China;3.Shanghai Branch,Bank of China,Shanghai 200135,China);Information Sources,Information Searching and Market Efficiency:——Evidence Based on Analyst Forecast Revision[J];Journal of Finance and Economics;2008-05
7 ZHU Kai1,LI Qin2,PAN Jin-feng2(1.Institute of Accounting and Finance,Shanghai University of Financeand Economics,Shanghai 200433,China;2.School of Accountancy,Shanghai University of Finance and Economics,Shanghai 200433,China);Incremental Value Relevance of Fair Value Disclosure under Information Asymmetry:Empirical Evidences from China Stock Markets[J];Journal of Finance and Economics;2008-07
8 Zheng Junling (Business School of Tianjin Commerce University ,Tianjin 523402);Analysis on Applying Fair Value Model in Accounting Standards[J];Communication of Finance and Accounting(Academy Version);2006-09
9 Li Wengui (Zhejiang University of Finance & Economics,Hangzhou ,Zhejiang 310018);Resarch on the Characteristics of Financial Analysts' Earning Forecast——Empirical Evidence from A-share Market of China[J];Communication of Finance and Accounting(Academy Version);2007-09
10 ZHANG Yi-hao, CHEN Liu-qin (1.Department of Finance, Nanjing University, Nanjing, Jiangsu, 210093; 2.Yianjin Economic Development Institute, Tianjin, 300202 );An Overview of China's Behavioral Finance Research[J];Journal of Chongqing University of Post and Telecommunications(Social Sciences Edition);2004-06
China Proceedings of conference Full-text Database 4 Hits
1 LIN Zhong-yue, LIU Chun-lin,WU Di (School of Business, Nanjing University, Nanjing,Jiangsu,210093,China);A Empirical Study on The Effect of Melamine Scandal on Stock Price of Dairy Firms[A];[C];2009
2 Gu Naikang,Chen Hui (School of Business,Sun Yat-Sen University,Guangzhou 510275,China);Stock Liquidity,Price Informativeness and the Investment Decision of the Firm[A];[C];2009
3 ;The Investment Value of Financial Analysts' Earnings Forecasts——Evidence from the A-Share Market in Shanghai and Shenzhen[A];[C];2004
4 Yapeng Jiang (School of management,Shenyang University of Technology, Shenyang 110023; School of management,Xi’an Jiaotong University,Xi’an 710049);Empirical Research on Marketing Reaction to Attribution information Disclosure of Listed Companies[A];[C];2009
【Co-references】
Chinese Journal Full-text Database 9 Hits
1 TANG Jun,SHONG Feng-ming (School of Economics and Management,Qinghua University,Beijing 100084,China);On Analysis of Selecting Stocks' Prediction of the Recommendation[J];Collected Essays on Finance and Economics;2002-01
2 ;<etitle>Secunrities Analysys'Dilemma[J];Finance & Trade;2003-01
3 ;投资银行的利益冲突及其监管:实证研究的质疑[J];Journal of Finance;2005-07
4 Wu donghui & Xue zuyun;The Investment Value of Financial Analysts' Earnings Forecasts: Evidence from the A-Share Markets in Shanghai and Shenzhen Stock Exchange[J];Accounting Research;2005-08
5 YE Qing-xiang(Management College of Zhejiang University,Hangzhou 310027,China);A Statistic Analysis of Investors' Information Demand from Security Analysis[J];Information Science;2005-09
6 LI Kun(School of Business Administration, Sichuan University, Chengdu 610064, China);An Empirical Study of Stock Recommendations by Experts[J];Journal of Sichuan University(Social Science Edition);2003-03
7 SONG Jun, WU Chong feng (Management School, Shanghai Jiaotong University, Shanghai, 20030,China);The Empirical Research on the Forecasting Behaviors of Chinese Securities Newsletters[J];Application of Statistics and Management;2003-03
8 HONGQI YUAN QIANRU HUANG (Shanghai University of Finance and Economics);The Impacts of Underwriting Relationship on Analysts' Earnings Forecasts and Investment Recommendations[J];China Accounting Review;2007-03
9 By Hu Yiming;Sun Congjiong;Overview of Empirical Studies on Earnings Forecasts of Overseas Securities Analysts[J];Securities Market Herald;2005-08
【Secondary Citations】
Chinese Journal Full-text Database 6 Hits
1 TANG Jun,SHONG Feng-ming (School of Economics and Management,Qinghua University,Beijing 100084,China);On Analysis of Selecting Stocks' Prediction of the Recommendation[J];Collected Essays on Finance and Economics;2002-01
2 SONG Jun, WU Chong_fengManagement School, Shanghai Jiaotong University, Shanghai 200052, China;Research on herding behaviors of stock analysts in China[J];Journal of Management Sciences in China;2003-01
3 Yu Qiao & Cheng Ying;The Firm's Dividend Policy and Stock Market Fluctuation in China[J];Economic Research Journal;2001-04
4 Cheng Xingyuan Zhang Tianyu Cheng Donghua;A Cross-Sectional Multi-Factor Analysis of Expected Stock Returns:Empirical Evidence fromChina Stock Market[J];Journal of Finance;2001-06
5 Hu Yiming Lin Wenxiong;A Study of Financial Analysts: Information Comprehension, Analyzing Ability and Analyzing Quality[J];Journal of Finance;2005-02
6 Yang Lisheng (Department of Economic Management, Yunnan University of the Nationalities, Kunming 650031, China);A Practical Analysis of the Effectiveness of China's Stock Investment Technical Analysis[J];JOURNAL OF YUNNAN INSTITUTE OF THE NATIONALITIES(SOCIAL SCIENCES);2000-04
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved