Do online stock recommendations add value to Malaysian stock brokerage customers? / Lai Ming Ming and Lau Siok Hwa

Lai, Ming Ming and Lau, Siok Hwa (2006) Do online stock recommendations add value to Malaysian stock brokerage customers? / Lai Ming Ming and Lau Siok Hwa. Malaysian Accounting Review, 5 (2). pp. 85-96. ISSN 1675-4077

Official URL: https://mar.uitm.edu.my/

Abstract

This paper examines online buy, sell, and hold recommendations provided by brokerage analysts in post dot-com bubble burst in Malaysia which has created the Multimedia Super Corridor. The results reveal significant value added factor of the online recommendations on stocks’ abnormal returns particularly on the release day. However, the very short-lived returns did not
continue through the incorporation period. Quarterly results of the firms
appear to be the most frequent rationale attributed for a recommendation
made by the analysts. We suggest that brokerage customers capitalise on the
advancement of information and communication technologies in their financial
decisions making. For the financial services firms, the online services would
be better integrated as part of the marketing strategies in enhancing customer
satisfaction.

Metadata

Item Type: Article
Creators:
Creators
Email / ID Num.
Lai, Ming Ming
UNSPECIFIED
Lau, Siok Hwa
UNSPECIFIED
Divisions: Universiti Teknologi MARA, Shah Alam > Accounting Research Institute (ARI)
Journal or Publication Title: Malaysian Accounting Review
UiTM Journal Collections: UiTM Journal > Management & Accounting Review (MAR)
ISSN: 1675-4077
Volume: 5
Number: 2
Page Range: pp. 85-96
Keywords: Internet, Online stock recommendations, Stock returns, Malaysia, Brokerage firms, Analysts
Date: October 2006
URI: https://ir.uitm.edu.my/id/eprint/280
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ID Number

280

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