| Issue |
E3S Web Conf.
Volume 253, 2021
2021 International Conference on Environmental and Engineering Management (EEM 2021)
|
|
|---|---|---|
| Article Number | 03029 | |
| Number of page(s) | 5 | |
| Section | Environmental Equipment Engineering Management and its Technical Application | |
| DOI | https://doi.org/10.1051/e3sconf/202125303029 | |
| Published online | 06 May 2021 | |
Analyst-Firm Relations and Reciprocity: Evidence from China
School of Economics and Management Beihang University Beijing, China
* Corresponding author: houjianlei0410@buaa.edu.cn
This paper quantifies the analyst-firm relations based on an informational characteristic-model of analyst coverage innovatively. Furtherly, the rationality of analyst-firm relations is investigated based on the reciprocity between analysts and target firms by examining the impact of analyst-firm relations on stock recommendation and analysts’ earnings forecasting performance. Empirical results suggest that analysts are prompted by close analyst-firm relations to render relatively positive rating for target firms and reciprocated by more firm-specific information for better earnings forecasting performance.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.