Analyst effort allocation and firms' information environment

• المؤلفون الرئيسيون: WANG, Rong, HARFORD, Jarrad, JIANG, Feng, XIE, Fei
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2017
• الموضوعات: Sell-side analysts; Effort allocation; Limited attention; Career concerns; Earnings forecast; Stock recommendation; Firm information environment; Labor market outcomes; Corporate Finance; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/5305; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6304/viewcontent/SSRN_id2947193.pdf
• المؤسسة: Singapore Management University

We show that a firm’s information environment is significantly impacted by the characteristics of the other firms its analysts cover. Analysts strategically allocate effort among portfolio firms by devoting more effort to firms that are relatively more important for their career concerns. Specifical...