Value Of The Different Types Of Investment Research Report

Institute of brokers and securities analysts publishing stock research report has long been important for investors investment reference. But brokerage stocks vary in amount of information, which the Investigation report and depth report contain the most. This study uses event study methodology, multivariate regression analysis and descriptive statistics to research the investment value of Investigation report and depth report and the influencing factors that affect the stock performance.According to the result of event study, the Securities analysts tend to recommend excellent companies within those industries and advance positive price momentum stocks. In the 10th day after the report was released, shares continued good performance. Securities analysts adjustment rating in depth reports and Investigation report have a weak influence on the market, after publishing the report within one month, two months, three months, there is no remarkable regularity in the unadjusted cumulative yields, and the adjusted cumulative yields.Multiple regression adjusted ratings from securities found that the star rating analysts depth reporting adjusted cumulative relative stocks have a significant influence. Institute brokerage firm size are not having enough significant impact.According to the result of multivariate regression analysis. Investigation report rating has significantly effects on the market in the 3rd day and 10th day, in a months, two months, and three months the effect isn’t significantly, the depth report rating has significantly effects on the market in 3rd day, in 10th day, a month, two months, and three months the effect isn’t significantly. In Investigation report, the top star analyst or power brokers stock ratings did not show a marginal increase on share price reaction, but in depth report, Star Analyst stock ratings in 3rd day,10th day,1 month after the report was released showing a marginal increase on share price reaction, In a 3rd day after the Investigation report published, the size of companies has a significant impact on the stock price, and Investigation report has no Significant effect on the stock price in a month, two months, and three months. But for depth report, the size of a company has no Significant effect on the stock market.