Learning from outsiders: Do managers benefit from communication with market participants?

Dongmin Kong, Shasha Liu and Yanan Wang

Finance Research Letters, 2018, vol. 26, issue C, 192-197

Abstract: This paper investigates whether managers learn from communication with professional market participants using a unique dataset of analyst visits to listed firms in China. We find that managerial ability is significantly enhanced by communicating with outsiders. To identify causality, instrument variable and matching method are introduced. Our findings provide significant implications on the role of the information learning from outsiders to firm managers.

Keywords: Learning; Communications; Outsiders; Managerial ability; China (search for similar items in EconPapers)
JEL-codes: G11 G12 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:26:y:2018:i:c:p:192-197

DOI: 10.1016/j.frl.2018.01.007

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