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The coverage assignments of financial analysts

The coverage assignments of financial analysts : Tristan Roger.

 Roger, Tristan.
 2018.
 p. 651-673. English
International FinanceTài chính quốc tếPhân tích tài chínhDự đoánFinancial analystsNghề nghiệpCareer concernsCoverage decisions+ 1 từ khóa
Tác giả CN Roger, Tristan.
Nhan đề The coverage assignments of financial analysts : Tristan Roger.
Thông tin xuất bản 2018.
Mô tả vật lý p. 651-673.
Tóm tắt Previous studies document that forecast accuracy impacts analyst career outcomes. This paper investigates the influence of forecast accuracy on coverage assignments. I show that brokerage houses reward accurate analysts by assigning them to high-profile firms and penalise analysts exhibiting poor accuracy by assigning them to smaller firms. The coverage of high-profile firms increases the potential for future compensation linked to investment banking and trading commissions. In addition, covering such firms increases analysts recognition from buy-side investors, which, in turn, increases the likelihood of obtaining broker votes and votes for the Institutional Investor star ranking. Overall, my results indicate that high forecast accuracy leads to increased future compensation.
Thuật ngữ chủ đề International Finance-Insurance.
Thuật ngữ chủ đề Tài chính quốc tế-Bảo hiểm.
Từ khóa tự do Phân tích tài chính
Từ khóa tự do Dự đoán
Từ khóa tự do Financial analysts
Từ khóa tự do Nghề nghiệp
Từ khóa tự do Career concerns
Từ khóa tự do Coverage decisions
Từ khóa tự do Forecast accuracy
Nguồn trích Accounting and Business Research - Vol.48, No.6
MARC
Hiển thị đầy đủ trường & trường con
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245[1 0] |a The coverage assignments of financial analysts : |b Tristan Roger.
260[ ] |c 2018.
300[1 0] |a p. 651-673.
520[ ] |a Previous studies document that forecast accuracy impacts analyst career outcomes. This paper investigates the influence of forecast accuracy on coverage assignments. I show that brokerage houses reward accurate analysts by assigning them to high-profile firms and penalise analysts exhibiting poor accuracy by assigning them to smaller firms. The coverage of high-profile firms increases the potential for future compensation linked to investment banking and trading commissions. In addition, covering such firms increases analysts recognition from buy-side investors, which, in turn, increases the likelihood of obtaining broker votes and votes for the Institutional Investor star ranking. Overall, my results indicate that high forecast accuracy leads to increased future compensation.
650[1 0] |a International Finance |x Insurance.
650[1 0] |a Tài chính quốc tế |x Bảo hiểm.
653[0 ] |a Phân tích tài chính
653[0 ] |a Dự đoán
653[0 ] |a Financial analysts
653[0 ] |a Nghề nghiệp
653[0 ] |a Career concerns
653[0 ] |a Coverage decisions
653[0 ] |a Forecast accuracy
773[ ] |t Accounting and Business Research |g Vol.48, No.6
890[ ] |a 0 |b 0 |c 0 |d 0