The disincentive effect of stars : evidence from analyst coverage

We hypothesize that when the winning odds are eclipsed by the presence of superstars, tournament participants will choose to bow out of the competition. We use the setting of financial analysts to test this hypothesis. We document that nonstar analysts avoid direct competition with star analysts thr...

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Bibliographic Details
Main Authors: Luo, Jiang, Yin, Huifang, Zhang, Huai
Other Authors: Nanyang Business School
Format: Article
Language:English
Published: 2020
Subjects:
Online Access:https://hdl.handle.net/10356/144126
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Institution: Nanyang Technological University
Language: English