Artikel
Institutional investor heterogeneity and analyst recommendation: Malaysian evidence
This study investigates the association between institutional investors' ownership and sell-side analysts' stock recommendations in the context of the heterogeneous nature of institutional investors. Based on a sample of 281 Malaysian public listed companies over the period 2008-2013 (732 company-year observations), we find a significant positive relationship between institutional ownership, in particular ownership held by privately managed institutional investors and sell-side analysts' stock recommendations, but no significant relationship between state owned institutional investors and sell-side analysts' stock recommendations. This suggests that the relationship between institutional investors and analysts' stock recommendations are different among different types of institutional investor. Our results are robust to tests for potential endogeneity between institutional ownership and analysts' stock recommendations.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Cogent Business & Management ; ISSN: 2331-1975 ; Volume: 8 ; Year: 2021 ; Issue: 1 ; Pages: 1-27
- Klassifikation
-
Management
Financial Institutions and Services: General
Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
Corporate Finance and Governance: General
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Accounting
- Thema
-
Institutional investors
sell-side analysts
stock recommendations
Malaysia
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Qasem, Ameen
Norhani Aripin
Wan Nordin Wan-Hussin
Al-Duais, Shaker Dahan
- Ereignis
-
Veröffentlichung
- (wer)
-
Taylor & Francis
- (wo)
-
Abingdon
- (wann)
-
2021
- DOI
-
doi:10.1080/23311975.2021.1908005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Qasem, Ameen
- Norhani Aripin
- Wan Nordin Wan-Hussin
- Al-Duais, Shaker Dahan
- Taylor & Francis
Entstanden
- 2021
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