Busse, Jeffrey A.; Clifton Green, T.; Jegadeesh, Narasimhan - In: Journal of Financial Markets 15 (2012) 2, pp. 207-232
We examine the performance of buy-side institutional investor trades and sell-side brokerage analyst stock recommendations, as well as their interactions. Buy-side trades follow sell-side analyst recommendations but not the other way around. While buy-side purchases significantly outperform...