Browsing by Author "Chuang Chung-Chu"

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Abnormal Stock Returns and Journalism's Recommendations: Reexamining of Hybrid Grey-Market Model
(2009)
Wang Yi-Hsien
;
Chuang Chung-Chu
;
Tsai Chung-Ming
;
Chuang Ya-Hui
;
管理科學系
This study employs hybrid grey-market model to reexamine the market behavior of journalism's recommendations of electronics companies. The empirical results confirm that security analysis recommend the continued growth stock to maintain the forecasting performance. Furthermore, the investors hold the conservative portfolio to reduce market risk, and the abnormal returns are moving lower following the analysis' recommendation.