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Contribution Details
| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Analyst Stock Recommendations and the Cross-section of Bond Returns |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 51 |
| Date | 2016 |
| Abstract Text | It is well recognized that analyst recommendations predict future stock returns and are capable to identify mispricing in the stock market. This thesis finds analyst recommendations to predict future corporate bond returns as well. If equity and corporate bond markets are integrated, risk premia in one market should appear in the other, and their magnitudes should be consistent with each other. The findings in this paper indicate high market integration and bond returns that are consistent with risk-based pricing. |
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