Analyst information about peer firms during the IPO quiet period
Badryah Alhusaini,
Andrew C. Call,
Kimball Chapman
Abstract:The SEC limits sell-side analysts' research activities on IPO firms both before and immediately after going public (the IPO quiet period). We examine whether, in spite of these restrictions, investors uncover information about the IPO firm during the quiet period indirectly through analyst research of peer firms. Our evidence suggests peer firm research is informative about the IPO firm during the quiet period. In particular, we find that analysts' recommendation revisions issued for peer firms are more freque… Show more
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