...Ohad Kadan; Leonardo Madureira; Rong Wang; Tzachi Zach ABSTRACT Sell-side analysts employ different benchmarks when defining their recommendations. A buy for some brokers means the stock is expected to outperform its industry, while for other brokers, it means the stock is expected to outperform...

...Bruce K. Billings; William L. Buslepp; G. Ryan Huston ABSTRACT The SEC Advisory Committee on Smaller Public Companies recommends paid-for research to fill the void created by declining sell-side coverage. Potential conflicts of interest inherent in paid-for research challenge this recommendation...