Analysts Recommendation Rating, Size Effect and Investment Value

摘要：

In this paper, we have used the analysts stock rating samples from 35 brokers between 2006 and 2008 to test whether the average analysts stock rating and absolute size group can help investors to forecast the profit potential of analysts recommendations, our research results show that after grouping by size, the information of analysts stock rating have important reference value for investors. When analysts average rating is Strong buy or buy, investors should place priority on big size stocks to gain higher return. The amount of analysts sell or Strong sell rating is low, but they have high information content and important reference value. Especially when analysts recommendations are sell or strong sell on small size stocks, investors should sell or avoid buying them.

关键词： analysts recommendation rating performance difference size effect investment value

作者: WANG Yuxi XIAO Jun

作者单位: School of Management, Shanghai University of Engineering and Science, P.R.China, 201620 School of Finance and Statistics, Jiangxi University of Finance and Economics, P.R.China, 330013

会议类型: 国际会议

会议名称: The 3rd International Institute of Statistics & Management Engineering Symposium(2010 国际统计与管理工程研讨会 IISMES)

会议地点: 威海

会议语种:英文

页码: 572-577

在线出版日期: 2010-07-24（万方平台首次上网日期，不代表论文的发表时间）