Intermediation in the Market for Equity Research

• Main Authors: Markov, Stanimir, TAN, Eng Joo
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2014
• Subjects: Asian Studies; Corporate Finance; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/4380; https://doi.org/10.1111/jfir.12045
• Institution: Singapore Management University

We study a unique setting in Singapore where an intermediary assigns firms willing to pay for coverage to research providers that also produce nonintermediated research. Our evidence suggests the intermediated model is a promising alternative to the traditional sell-side model, which neglects small...