Research

Do Stock Analysts Have an Impact on Share Prices?

Do Stock Analysts Have an Impact on Share Prices?

Innumerable daily news reports plus a large body of scholarship affirm stock analysts’ price-moving influence to be considerable, a presumption with profound effects on matters ranging from regulatory statutes to theories of market efficiency to the ample pay of analysts themselves. But now new research by two Freeman School finance professors raises fundamental doubts about this reputed power.

The failure of credit rating agencies in emerging debt markets

By David Lesmond, associate professor of business In the recent economic downturn, a downturn precipitated by an explosion of so-called toxic debt, one of the most striking discoveries was the inability of credit-rating agencies to properly assess credit risk, the chance that a bond will default. But an overriding question […]