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DO ANALYSTS WHO MOVE MARKETS HAVE BETTER CAREERS?
Author(s) -
Balashov Vadim S.
Publication year - 2018
Publication title -
journal of financial research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.319
H-Index - 49
eISSN - 1475-6803
pISSN - 0270-2592
DOI - 10.1111/jfir.12144
Subject(s) - business , actuarial science , association (psychology) , demographic economics , accounting , psychology , economics , psychotherapist
In this article I investigate 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 a 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 experiencing lower job turnover compared to peers.