The Role of Co-Authorship in Analyst Rankings

50 Pages Posted: 28 Nov 2021 Last revised: 11 Apr 2022

See all articles by Annita Florou

Annita Florou

Bocconi University

Hao Lan

Essex Business School

Mingzhu Wang

King'S College London

Date Written: November 26, 2021


Sell-side analysts frequently collaborate with their peers in producing research reports. We examine whether such co-authorship influences analyst career outcomes. Our findings suggest that co-authorship in analyst reports is an important determinant of analyst ranking. Specifically, analysts issuing more co-authored reports and collaborating with more peers are more likely to be ranked than their counterparts. Moreover, the effects of co-authorship are stronger: a) for analysts co-authoring with previously ranked peers than for those collaborating with unranked peers and b) for previously unranked analysts than ranked analysts. Further analysis reveals that co-authorship may also affect the ranking level of repeatedly ranked analysts. Overall, co-authorship has positive implications for analyst career progress.

Keywords: sell-side analysts; analyst reports; co-authorship; teamwork; analyst rankings

JEL Classification: G14; G23; G24; G40

Suggested Citation

Florou, Annita and Lan, Hao and Wang, Mingzhu, The Role of Co-Authorship in Analyst Rankings (November 26, 2021). Available at SSRN: or

Annita Florou

Bocconi University ( email )

Via Roentgen 1
Milan, 20136


Hao Lan

Essex Business School ( email )

Wivenhoe Park
Colchester, CO4 3SQ
United Kingdom

Mingzhu Wang (Contact Author)

King'S College London ( email )

30 Aldwych
Franklin-Wilkins Building
London, WC2B 4BG
United Kingdom

HOME PAGE: http://

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
PlumX Metrics