Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/218052 
Authors: 
Year of Publication: 
1990
Citation: 
[Journal:] South African Journal of Business Management [ISSN:] 2078-5976 [Volume:] 21 [Issue:] 3 [Publisher:] African Online Scientific Information Systems (AOSIS) [Place:] Cape Town [Year:] 1990 [Pages:] 86-95
Publisher: 
African Online Scientific Information Systems (AOSIS), Cape Town
Abstract: 
The objective of this study is to determine if the buy and sell recommendations of stockbroker and investment advisory services have provided clients with superior returns during the period 1979-88. Superior returns were associated primarily with buy, rather than sell, recommendations. The recommendations were associated with genuine changes in the value of securities and were not mere self-fulfilling prophecies. The apparent ability of stockbrokers/investment advisory services to offer their clients superior investment recommendations may be due to their superior access to new information which they process more quickly and efficiently than most investors. Investment analysts also appear to have a potential for acquiring inside information and this in turn may have contributed to their superior returns.
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





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