What is it about?
The purpose of this paper is to examine the influence of financial restatements on the sell-side analysts’ stock recommendations
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Why is it important?
This paper expands the literature on financial restatements consequences in an emerging market which is largely unstudied. Prior research on analyst behavior towards restatements has focused on the consequences of restatements in terms of analyst following and forecast accuracy and dispersion. This study examines if and how the restatements affect the analysts’ final output as reflected in the recommendation opinion, an area that has so far received little attention
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This page is a summary of: Financial restatements and sell-side analysts' stock recommendations: evidence from Malaysia, International Journal of Managerial Finance, April 2020, Emerald, DOI: 10.1108/ijmf-05-2019-0183.
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