The value of unaffiliated analyst recommendations before the IPO: evidence from Indian IPOs
K Singh, SR Vishwanath - … Research Journal of …, 2013 - tapmi.informaticsglobal.com
Brokerage firms and financial press spend considerable amounts of money on security
analysis. While many papers on the value of brokerage recommendations of listed firms
have been published, little research has been done to understand the value of brokerage
recommendations available before the offer, primarily because recommendations are
usually unavailable before the IPO. We bridge this gap by studying the 703
recommendations of 257 IPO firms in India during 2001-2010. We find that positive analyst …
analysis. While many papers on the value of brokerage recommendations of listed firms
have been published, little research has been done to understand the value of brokerage
recommendations available before the offer, primarily because recommendations are
usually unavailable before the IPO. We bridge this gap by studying the 703
recommendations of 257 IPO firms in India during 2001-2010. We find that positive analyst …
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