Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/23165 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorMizrach, Bruceen
dc.date.accessioned2009-01-29T15:49:06Z-
dc.date.available2009-01-29T15:49:06Z-
dc.date.issued2003-
dc.identifier.urihttp://hdl.handle.net/10419/23165-
dc.description.abstractI investigate the linkage between liquidity provision by Nasdaq market makers and analysts inthe same firm. Using three measures of market activity, I find that Nasdaq firms are more likelyto provide buy side liquidity in anticipation of upgrades in the period 1999-2000. ECN activitysupports this pattern. Firm level evidence shows that 15 of 42 market makers studied engage insignificant pre-recommendation activity. I estimate cumulative abnormal returns of more than 75%and profits of almost $600 million in a sample of 47 large capitalization stocks.en
dc.language.isoengen
dc.publisher|aRutgers University, Department of Economics |cNew Brunswick, NJen
dc.relation.ispartofseries|aWorking Paper |x2003-07en
dc.subject.jelG24en
dc.subject.jelG14en
dc.subject.ddc330en
dc.subject.keywordanalysten
dc.subject.keywordNasdaqen
dc.subject.keywordmarket makeren
dc.subject.stwBetriebliche Liquiditäten
dc.subject.stwAktienmarkten
dc.subject.stwNeuer Markten
dc.subject.stwVereinigte Staatenen
dc.titleAnalyst Recommendations and Nasdaq Market Making Activity-
dc.typeWorking Paperen
dc.identifier.ppn377975737en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:rut:rutres:200307en

Datei(en):
Datei
Größe
291.72 kB





Publikationen in EconStor sind urheberrechtlich geschützt.