Although there is ample evidence that digital technologies are strategically important for
value creation, extant literature lacks holistic concepts that capture an organization's …

Construct validity continues to pose challenges in the organizational sciences. To capture
difficult-to-measure constructs of interest, researchers have often relied on content analysis …

This paper develops a taxonomy of research examining the role of financial analysts in
capital markets. The paper builds on the perspectives provided by Schipper [Schipper …

This paper documents that mutual funds “herd”(trade together) into stocks with consensus
sell-side analyst upgrades, and herd out of stocks with consensus downgrades. This …

We show theoretically that the responsiveness of a fund manager's portfolio allocations to
changes in public information decreases in the manager's skill. We go on to estimate this …

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 …

We document lead-lag effects on returns between coheadquartered firms in different sectors.
Geographic lead-lags yield risk-adjusted returns of 5%–6% annually, half that observed for …

This paper provides early but broad empirical evidence on MiFID II, which requires
investment firms to unbundle investment research from other costs they charge to clients …

This paper extends the literature on analyst optimism. Our analysis of a large sample of
recommendations issued from 1995 through 2006 indicates that sell-side analysts are likely …

内容提要: 中国的证券分析师在对上市公司进行盈余预测时预测行为是否有效?
如果预测行为无效, 其原因何在? 利用2005—2007 年国内856 名分析师对1005 …