Professors Conclude Spitzer Changed Research

Friedlander, Josh
November 2004
Investment Dealers' Digest;11/8/2004, Vol. 70 Issue 43, p13
Trade Publication
Discusses a Washington University study which determined that analyst at banks doing deals are still somewhat positively biased towards clients of their firms, but far less than before the global research settlement was reached. Selection bias resulting from companies choosing to do deals with firms whose analysts they believe will be bullish; Finding that affiliated analysts' recommendations are 13% more optimistic than unaffiliated recommendations following the global settlement; Contribution of New York State Attorney General Eliot Spitzer.


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