Security Analysts' Career Concerns and Herding of Earnings Forecasts
نویسندگان
چکیده
منابع مشابه
Security analysts’ career concerns and herding of earnings forecasts
Several theories of reputation and herd behavior (e.g., Scharfstein and Stein (1990), and Zwiebel (1995)) suggest that herding among agents should vary with career concerns. Our goal is to document whether such a link exists in the labor market for security analysts. We find that inexperienced analysts are more likely to be terminated for inaccurate earnings forecasts than are their more experi...
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ژورنال
عنوان ژورنال: The RAND Journal of Economics
سال: 2000
ISSN: 0741-6261
DOI: 10.2307/2601032