Stock recommendations – an analysis of usefulness

Olga Gadomska , Marcin Karol Izbrandt , Katarzyna Włosik


This article presents the results of an assessment of the reliability and thus usefulness of the recommendations concerning stocks listed on the Warsaw Stock Exchange. In order to meet this goal, the authors analysed thoroughly a data set consisting of nearly 18,000 recommendations, issued from 2000 to the end of June 2015 by 82 analytical firms. The research was supported by an evaluation of the accuracy of target prices. The results obtained were used to assess the quality of the recommendations, and to make an attempt at ranking financial institutions on that basis.
Author Olga Gadomska
Olga Gadomska,,
, Marcin Karol Izbrandt
Marcin Karol Izbrandt,,
, Katarzyna Włosik (WE / KTPiPP)
Katarzyna Włosik,,
- Department of Money Theory and Monetary Policy
Journal seriesFINANSE Czasopismo Komitetu Nauk o Finansach PAN, ISSN 1899-4822, (B 12 pkt)
Issue year2017
Publication size in sheets0.8
Keywords in Englishstock recommendation, accuracy of recommendations, target price
Languageen angielski
Score (nominal)12
ScoreMinisterial score = 12.0, 31-03-2019, ArticleFromJournal
Ministerial score (2013-2016) = 12.0, 31-03-2019, ArticleFromJournal
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