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The study investigates the determinants of the informativeness of analyst research, focusing on how various factors affect stock price reactions to analyst reports. It finds that analyst reports are more informative when brokerage profits are higher and less informative when information processing costs are elevated, with significant cross-sectional variation observed. The analysis also reveals that analyst research is more impactful for negative forecast revisions compared to positive ones, suggesting mark

Author

s711234113

Language

EN