This paper extends qualitative research on sell-side analysts by investigating how compete against each other in the market for investment advice. The challenges assumption that must utilize private information such competition, and investigates role of a public setting – quarterly earnings presentation analysts’ analytical work client communication. draws an in-depth field study, comprising ob...

The National Basketball Association(NBA) has expanded their data gathering and have heavily invested in new technologies to gather advanced performance metrics on players. This expanded data set allows analysts to use unique performance metrics in models to estimate and classify player performance. Instead of grouping players together based on physical attributes and positions played, analysts ...

The history of the chemical analysis of minerals is shortly reviewed. Following rapid developments between I77O and 181o, few important changes took place for close on 13o years; new procedures led to simpler and more convenient separations but not, on the whole, to greater accuracy. The older analyses are, in general, neither worse nor better than modern ones, and analyses can only be assessed...

Sell-side analysts are compensated, at least in part, by brokerage commissions. These commissions create an incentive to bias forecasts to generate trade. Thus, analysts have clear economic incentives to deceive and traders have economic incentives to detect deception. Prior analytical theories of information transmission games starkly predict that there will always be some deception (with trad...

The most relevant practical impediment to an application of the Markowitz portfolio selection approach is the problem of estimating return moments, in particular return expectations. We analyze the consequences of using return estimates implied by analysts’ dividend forecasts under the explicit notion of taxes and non-flat term structures of interest rates and achieve quite good performance res...

The challenges of CSA discussed in previous chapters call for ways to provide assistance to analysts and decision-makers. In many fields, analyses of complex systems and activities benefit from visualization of data and analytical products. Analysts use images in order to engage their visual perception in identifying features in the data, and to apply the analysts. domain knowledge. One would e...

We argue that financial analysts can be viewed as participants of two tournaments (the “All-star” tournament and the intrafirm tournament) and examine whether analysts are incentivized by the tournament compensation structure. Using data from 1991 to 2007, we find that interim losers are more likely to increase the boldness of their forecasts in the remainder of the tournament period than inter...

Cyber security analysts may be organized in teams to share skills and support each other upon the occurrence of cyber attacks. Team work is expected to enforce the mitigation capability against unpredictable attacks addressed against a set of cyber assets requiring protection. A conceptual model for evaluating the expected performances of cooperating analysts by reproducing their learning proce...

Firms and individuals who sell opinions may bias their reports for either behavioral or strategic reasons. This paper proposes a methodology for measuring these biases, particularly whether opinion producers under or over emphasize their private information, i.e. whether they herd or exaggerate their differences with the consensus. Applying the methodology to I/B/E/S analysts reveals that they ...