The influence of buy-side analysts on mutual fund trading

•We present evidence on the trading and performance impact of buy-side analysts.•Fund managers strongly follow recent recommendation revisions.•Trades triggered by buy-side recommendations have higher returns than other trades.•The impact of buy-side analysts is more pronounced than that of sell-sid...

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Veröffentlicht in:	Journal of banking & finance 2014-12, Vol.49, p.442-458
Hauptverfasser:	Frey, Stefan, Herbst, Patrick
Format:	Artikel
Sprache:	eng
Schlagworte:	Abnormal returns Analyst recommendations Banking Buy-side analysts Capital market Economic performance Investment advisors Investment analysis Investment decisions Investment performance Investment trusts Mutual funds Personal finance Portfolio performance Securities trading Studies
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