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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/72717

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/72717

Title:	Are There Long-Run Implications of Analyst Coverage for IPOs?
Authors:	Bradley, Daniel;湛可南;Kim, Joonghyuk.;Singh, Ajai Bradley, Daniel;Chan, Konan;Kim, Joonghyuk.;Singh, Ajai
Contributors:	財管系
Keywords:	Analysts’ research coverage;Initial public offers;Long-run performance
Date:	2008-06
Issue Date:	2015-01-08 18:03:11 (UTC+8)
Abstract:	Analyst coverage has been cited increasingly as an important attribute in the selection of an underwriter for a firm about to go public. However, it has also been alleged that affiliated analysts provide biased research. In this study, we examine these interrelated issues by examining the long-run performance of IPOs with coverage from their managing underwriters in a 1993–2003 sample. We find that (1) analysts’ research coverage from their managing syndicate is not related to long-run performance; (2) long-run performance is not different for firms that receive all-star analyst coverage; and (3) investors are not systematically worse off for following lead underwriter recommendations.
Relation:	Journal of Banking and Finance, 32(6), 1120-1132
Data Type:	article
Appears in Collections:	[財務管理學系] 期刊論文

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