Kadan, Ohad; Madureira, Leonardo; Wang, Rong; Zach, Tzachi - In: Review of Financial Studies 22 (2009) 10, pp. 4189-4217
We study the effect of the Global Analyst Research Settlement and related regulations on sell-side research. These regulations attempted to mitigate the interdependence between research and investment banking. We document that following the regulations many brokerage houses have migrated from...