Accuracy as one of the dimensions of the quality of stock market recommendations published by Polish brokerage houses

Abstract

The aim of this article is to provide an empirical analysis of investment recommendation accuracy on Polish Stock Exchange. The study also intended to defining the concept of investment recommendation quality and classifying the dimensions through which it can be assessed. Based on data from 2005 to 2019 the accuracy of investment recommendation was calculated using four approaches. All four indicators indicate low level of accuracy of investment recommendation in Poland.