Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/11724
Full metadata record
DC FieldValueLanguage
dc.contributor.authorFrey, Stefan-
dc.contributor.authorHerbst, Patrick-
dc.date.accessioned2013-04-03T23:47:01Z-
dc.date.available2013-04-03T23:47:01Z-
dc.date.issued2012-01-17-
dc.identifier.urihttp://hdl.handle.net/1893/11724-
dc.description.abstractWe present evidence of the impact of buy-side analysts on the behavior and performance of fund managers. Using data provided by a large global asset manager, we relate buy-side analysts' recommendations to fund transactions on a daily basis. Our results show that buy-side analysts have a significant influence on trading decisions: Fund managers almost certainly follow recent recommendation revisions in their trades. Fund flows and sell-side recommendations matter as well, but to a lesser extent. Positive abnormal returns to buy-side analysts' revisions are also reflected in the performance of mutual fund trades. Trades triggered by buy-side recommendations have higher returns than other trades.en_UK
dc.language.isoen-
dc.publisherSocial Science Research Network-
dc.relationFrey S & Herbst P (2012) The Influence of Buy-side Analysts on Mutual Fund Trading. SSRN Working Paper Series. Social Science Research Network.-
dc.relation.ispartofseriesSSRN Working Paper Series-
dc.rightsAuthor retains copyright.-
dc.subjectBuy-side analystsen_UK
dc.subjectanalyst recommendationsen_UK
dc.subjectmutual fundsen_UK
dc.subjectinvestment decisionsen_UK
dc.subjectinvestment performanceen_UK
dc.titleThe Influence of Buy-side Analysts on Mutual Fund Tradingen_UK
dc.typeWorking or Discussion Paperen_UK
dc.citation.publicationstatusPublished-
dc.type.statusPublisher version-
dc.identifier.urlhttp://ssrn.com/abstract=1343771-
dc.author.emailpatrick.herbst@stir.ac.uk-
dc.subject.jelG23-
dc.subject.jelG11-
dc.subject.jelM41-
dc.subject.jelG29-
dc.contributor.affiliationLeibniz University of Hanover-
dc.contributor.affiliationAccounting and Finance-
Appears in Collections:Accounting and Finance Working Papers

Files in This Item:
File Description SizeFormat 
Herbst_2012_The_Influence_of_Buy-side_Analysts.pdf237.19 kBAdobe PDFView/Open


This item is protected by original copyright



Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

If you believe that any material held in STORRE infringes copyright, please contact library@stir.ac.uk providing details and we will remove the Work from public display in STORRE and investigate your claim.