Corpus ID: 169729798

Two essays on analyst bias and management entrenchment

  title={Two essays on analyst bias and management entrenchment},
  author={Bahar Ulupinar},
1 Citations


Corporate Governance and Equity Prices, Quarterly Journal of Economics
  • Institutional Investors and Equity Prices, Quarterly Journal of Economics
  • 2003
Conflicts of Interest in Sell-Side Research and the Moderating Role of Institutional Investors
Because sell-side analysts are dependent on institutional investors for performance ratings and trading commissions, we argue that analysts are less likely to succumb to investment banking orExpand
Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC*
This study investigates firms subject to accounting enforcement actions by the Securities and Exchange Commission (SEC) for alleged violations of GAAP. We investigate: (i) the extent to which theExpand
Seasoned Equity Offerings: Quality of Accounting Information and Expected Flotation Costs
Flotation costs represent a significant loss of capital to firms and are positively related to information asymmetry between managers and outside investors. We measure a firm's information asymmetryExpand
Stock Market Liquidity and the Cost of Issuing Equity
Abstract We show that stock market liquidity is an important determinant of the cost of raising external capital. Using a large sample of seasoned equity offerings, we find that, ceteris paribus,Expand
Law and Finance
This paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. The results show thatExpand
Reputation and Performance Among Security Analysts
Members of the Institutional Investor All-American Research Team supply more accurate earnings forecasts than other analysts when forecasts are the corporation followed and by the date ofExpand
Are Small Investors Naive About Incentives?
Security analysts tend to bias stock recommendations upward, particularly if they are affiliated with the underwriter. We analyze how investors account for such distortions. Using the NYSE Trades andExpand
Governance and Its Implications, Northwestern University Law Review
  • Journal of Accounting and Economics
  • 2006
Which Types of Analyst Firms Are More Optimistic
Abstract Research optimism among securities analysts has been attributed to incentives provided by underwriting activities. We examine how analysts’ forecast and recommendation optimism varies withExpand