How useful are the equity analysts’ report? evidence from Malaysia
Using 657 Malaysian sell-side analyst recommendations from January 2010 until December 2015, this paper documents the usefulness of equity analyst reports to investors. The research findings revealed that target price and earnings forecast had a significant association with stock return. However,...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
HIKARI Ltd.
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/65915/ http://irep.iium.edu.my/65915/1/65915_How%20Useful%20Are%20the%20Equity.pdf |
| _version_ | 1848786474628022272 |
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| author | Mohd Thas Thaker, Hassanudin Mohamad, Azhar Mustaffa Kamil, Nazrol Kamil Duasa, Jarita |
| author_facet | Mohd Thas Thaker, Hassanudin Mohamad, Azhar Mustaffa Kamil, Nazrol Kamil Duasa, Jarita |
| author_sort | Mohd Thas Thaker, Hassanudin |
| building | IIUM Repository |
| collection | Online Access |
| description | Using 657 Malaysian sell-side analyst recommendations from January 2010 until
December 2015, this paper documents the usefulness of equity analyst reports to
investors. The research findings revealed that target price and earnings forecast had
a significant association with stock return. However, trading volume was shown to
have an insignificant relationship with the return. Overall, our results indicate that
the information content in the analyst report contained only 66.67% explanatory vis
a vis stock return and only target price and earnings forecast were useful. This paper
is expected to add value in enriching the literature available on analyst report
especially in the context of Malaysian market. |
| first_indexed | 2025-11-14T17:09:37Z |
| format | Article |
| id | iium-65915 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T17:09:37Z |
| publishDate | 2018 |
| publisher | HIKARI Ltd. |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-659152020-11-09T08:34:54Z http://irep.iium.edu.my/65915/ How useful are the equity analysts’ report? evidence from Malaysia Mohd Thas Thaker, Hassanudin Mohamad, Azhar Mustaffa Kamil, Nazrol Kamil Duasa, Jarita HD2321 Industry HG Finance HG4001 Financial management. Business finance. Corporation finance. Using 657 Malaysian sell-side analyst recommendations from January 2010 until December 2015, this paper documents the usefulness of equity analyst reports to investors. The research findings revealed that target price and earnings forecast had a significant association with stock return. However, trading volume was shown to have an insignificant relationship with the return. Overall, our results indicate that the information content in the analyst report contained only 66.67% explanatory vis a vis stock return and only target price and earnings forecast were useful. This paper is expected to add value in enriching the literature available on analyst report especially in the context of Malaysian market. HIKARI Ltd. 2018 Article PeerReviewed application/pdf en http://irep.iium.edu.my/65915/1/65915_How%20Useful%20Are%20the%20Equity.pdf Mohd Thas Thaker, Hassanudin and Mohamad, Azhar and Mustaffa Kamil, Nazrol Kamil and Duasa, Jarita (2018) How useful are the equity analysts’ report? evidence from Malaysia. Reports on Economics and Finance, 4 (4). pp. 221-246. E-ISSN 2367-7805 http://www.m-hikari.com/ref/ref2018/ref1-4-2018/p/thakerREF1-4-2018-2.pdf 10.12988/ref.2018.8721 |
| spellingShingle | HD2321 Industry HG Finance HG4001 Financial management. Business finance. Corporation finance. Mohd Thas Thaker, Hassanudin Mohamad, Azhar Mustaffa Kamil, Nazrol Kamil Duasa, Jarita How useful are the equity analysts’ report? evidence from Malaysia |
| title | How useful are the equity analysts’ report? evidence from Malaysia |
| title_full | How useful are the equity analysts’ report? evidence from Malaysia |
| title_fullStr | How useful are the equity analysts’ report? evidence from Malaysia |
| title_full_unstemmed | How useful are the equity analysts’ report? evidence from Malaysia |
| title_short | How useful are the equity analysts’ report? evidence from Malaysia |
| title_sort | how useful are the equity analysts’ report? evidence from malaysia |
| topic | HD2321 Industry HG Finance HG4001 Financial management. Business finance. Corporation finance. |
| url | http://irep.iium.edu.my/65915/ http://irep.iium.edu.my/65915/ http://irep.iium.edu.my/65915/ http://irep.iium.edu.my/65915/1/65915_How%20Useful%20Are%20the%20Equity.pdf |