BRADLEY, DANIEL; CLARKE, JONATHAN; LEE, SUZANNE; … - In: Journal of Finance 69 (2014) 2, pp. 645-673
type="main" <title type="main">ABSTRACT</title> <p>We demonstrate that time stamps reported in I/B/E/S for analysts’ recommendations released during trading hours are systematically delayed. Using newswire-reported time stamps, we find 30-minute returns of 1.83% (−2.10%) for upgrades (downgrades), but for this subset of...</p>
