The activities of buy-side analysts and the determinants of their stock recommendations Academic Article

abstract

• 2016 Elsevier B.V. We survey 344 buy-side analysts from 181 investment firms and conduct 16 detailed follow-up interviews to gain insights into the activities of buy-side analysts, including the determinants of their compensation, the inputs to their stock recommendations, their beliefs about financial reporting quality, and the role of sell-side analysts in buy-side research. One important finding is that 10-K or 10-Q reports are more useful than quarterly conference calls and management earnings guidance for determining buy-side analysts stock recommendations. Our results also suggest that sell-side analysts add value by providing buy-side analysts with in-depth industry knowledge and access to company management.

authors

• Sharp, Nathan

published proceedings

• JOURNAL OF ACCOUNTING & ECONOMICS

altmetric score

• 9

author list (cited authors)

• Brown, L. D., Call, A. C., Clement, M. B., & Sharp, N. Y.

citation count

• 107

complete list of authors

• Brown, Lawrence D||Call, Andrew C||Clement, Michael B||Sharp, Nathan Y

publication date

• January 2016

publisher

• Elsevier  Publisher

published in

• Journal of Accounting and Economics  Journal

keywords

• Buy-side Analysts
• Compensation
• Industry Knowledge
• Private Communication
• Sell-side Analysts
• Stock Recommendations

Digital Object Identifier (DOI)

• 10.1016/j.jacceco.2016.06.002

start page

• 139

end page

• 156

volume

• 62

issue

• 1

URL

• http%3A%2F%2Fdx.doi.org%2F10.1016%2Fj.jacceco.2016.06.002