Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
Department of Industrial Economics and Management, Royal Institute of Technology INDEK Working Paper Series, Department of Industrial Economics and Management, Royal Institute of Technology

No 2015/11:
Star sell-side analysts listed by Institutional Investor, The Wall Street Journal and StarMine. Whose recommendations are most profitable?

Yury O. Kucheev (), Felipe Ruiz and Tomas Sorensson ()

Abstract: In this study, we compare the profitability of the investment recommendations of analysts listed in four different star rankings: Institutional Investor magazine, StarMine’s “Top Earnings Estimators” and “Top Stock Pickers” and The Wall Street Journal. We document that the highest average monthly abnormal return of holding a long-short portfolio, 1.58 percent, is obtained by following the recommendations of the group of star sell-side analysts rated by The Wall Street Journal during the period from 2003-2013. The results indicate that the choice of analyst ranking is economically important in making investment decisions.

Keywords: Star analysts; Analyst recommendations; StarMine; Institutional Investor; The Wall Street Journal; (follow links to similar papers)

JEL-Codes: G10; G20; (follow links to similar papers)

29 pages, June 3, 2015

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

indekwp11.pdf    PDF-file
Download Statistics

Questions (including download problems) about the papers in this series should be directed to Vardan Hovsepyan ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:kthind:2015_011 This page was generated on 2015-06-03 10:37:34