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- Title
Investor Demand for Sell-Side Research.
- Authors
Lawrence, Alastair; Ryans, James P.; Sun, Estelle Y.
- Abstract
We use daily page views of analyst estimates, ratings, and target prices on Yahoo Finance to understand when users seek sell-side analyst research. Demand for this information is most pronounced on days with earnings announcements, management guidance, and All-Star analyst reports. Surprisingly, demand does not increase at Form 10-K and Form 10-Q filings. While the overall demand for analyst estimates is 19.9 percent less than for analyst ratings and target prices, on earnings announcement and management guidance days, this preference is reversed. Moreover, the demand for analyst information substantially trumps that of SEC filings and financial statement information.
- Subjects
INVESTMENT analysis; ATTITUDES of capitalists &; financiers; EARNINGS announcements; FINANCIAL statements; SECURITIES; STOCK ratings
- Publication
Accounting Review, 2017, Vol 92, Issue 2, p123
- ISSN
0001-4826
- Publication type
Article
- DOI
10.2308/accr-51525