آیا خانه های کارگزاری ارزش بیشتری دارند؟ تاثیر بازار بر پیشنهاد تحلیلگران بریتانیا در زمینه فروش تغییر می کند

We find that UK analysts’ investment recommendations in practice appear less susceptible to potential conflicts of interest than their US counterparts. The ratio of new sell to buy recommendations is higher in the UK and a greater proportion of such recommendations are accompanied by same-sign earnings forecast revisions than their equivalents in the US. We find brokerage house investment banking relationships do not appear to impact (adversely) on abnormal returns.