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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/18435
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dc.contributor.authorFrey, Stefanen_UK
dc.contributor.authorHerbst, Patricken_UK
dc.date.accessioned2018-01-09T03:49:21Z-
dc.date.available2018-01-09T03:49:21Z-
dc.date.issued2014-12en_UK
dc.identifier.urihttp://hdl.handle.net/1893/18435-
dc.description.abstractWe present evidence on the trading and performance impact of buy-side analysts. Using data provided by a large global asset manager, we relate buy-side analysts' recommendations to fund transactions on a daily basis. We show that buy-side analysts significantly influence trading decisions: Fund managers strongly follow recent recommendation revisions, even after controlling for other trading determinants. 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. Overall, the impact of buy-side analysts is more pronounced than that of sell-side analysts.en_UK
dc.language.isoenen_UK
dc.publisherElsevieren_UK
dc.relationFrey S & Herbst P (2014) The Influence of Buy-side Analysts on Mutual Fund Trading. Journal of Banking and Finance, 49, pp. 442-458. https://doi.org/10.1016/j.jbankfin.2014.01.007en_UK
dc.rightsPublished in The Journal of Banking and Finance by Elsevier; The Elsevier Policy is as follows: Authors retain the right to use the accepted author manuscript for personal use, internal institutional use and for permitted scholarly posting provided that these are not for purposes of commercial use or systematic distribution. An "accepted author manuscript" is the author’s version of the manuscript of an article that has been accepted for publication and which may include any author-incorporated changes suggested through the processes of submission processing, peer review, and editor-author communications.en_UK
dc.subjectBuy-side analystsen_UK
dc.subjectAnalyst recommendationsen_UK
dc.subjectMutual fundsen_UK
dc.subjectInvestment decisionsen_UK
dc.subjectInvestment performance G23en_UK
dc.subjectG11en_UK
dc.subjectG29en_UK
dc.subjectM41en_UK
dc.titleThe Influence of Buy-side Analysts on Mutual Fund Tradingen_UK
dc.typeJournal Articleen_UK
dc.identifier.doi10.1016/j.jbankfin.2014.01.007en_UK
dc.citation.jtitleJournal of Banking and Financeen_UK
dc.citation.issn0378-4266en_UK
dc.citation.volume49en_UK
dc.citation.spage442en_UK
dc.citation.epage458en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.author.emailpatrick.herbst@stir.ac.uken_UK
dc.citation.date24/01/2014en_UK
dc.contributor.affiliationLeibniz University of Hanoveren_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.isiWOS:000347576400032en_UK
dc.identifier.scopusid2-s2.0-84893974053en_UK
dc.identifier.wtid654718en_UK
dc.contributor.orcid0000-0003-2916-7456en_UK
dcterms.dateAccepted2014-01-24en_UK
dc.date.filedepositdate2014-01-27en_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionAMen_UK
local.rioxx.authorFrey, Stefan|en_UK
local.rioxx.authorHerbst, Patrick|0000-0003-2916-7456en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2014-01-27en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/all-rights-reserved|2014-01-27|en_UK
local.rioxx.filenameJournal of Banking and Finance 2014.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source0378-4266en_UK
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