Home Biased Analysts in Emerging Markets

We find that local analyst recommendations are systematically more optimistic than foreign analyst recommendations in emerging markets. The effects of this novel home bias among local analysts overwhelm any information asymmetry between foreign and local analysts. Consequently, local analyst upgrade...

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Bibliographic Details
Main Authors: LAI, Sandy, TEO, Melvyn
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2008
Subjects:
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/2608
https://ink.library.smu.edu.sg/context/lkcsb_research/article/3607/viewcontent/Home_Biased_Analysts_in_Emerging_Markets.pdf
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Institution: Singapore Management University
Language: English