Do Analysts Who Move Markets Have Better Careers?

The Journal of Financial Research, Volume XLI (2), Forthcoming

51 Pages Posted: 12 Jun 2019

Date Written: May 25, 2019

Abstract

This study investigates the association between analysts’ ability to issue influential recommendations and their career outcomes. The fraction of recommendations that are defined as influential are linked to a higher probability of an analyst moving to a higher status brokerage house, and lower probability of either being demoted to a lower-status brokerage house or leaving the profession. Analysts who more often issue influential recommendations also have a higher chance of being ranked by Institutional Investor All-America, having longer careers, and having lower job turnover in comparison to peers.

Keywords: security analysts, career concerns, influential analysts

JEL Classification: D82, G11, G12, G14, G24, G28, K22, M41

Suggested Citation

Balashov, Vadim S., Do Analysts Who Move Markets Have Better Careers? (May 25, 2019). The Journal of Financial Research, Volume XLI (2), Forthcoming. Available at SSRN: https://ssrn.com/abstract=3394306 or http://dx.doi.org/10.2139/ssrn.3394306

Vadim S. Balashov (Contact Author)

Rutgers School of Business-Camden ( email )

Camden, NJ 08102
United States
856-225-6706 (Phone)

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