Sell-side financial analyst social network and forecast accuracy

Mengjia Li, Wenjie Ding, Hao Li, Qingwei Wang and Jason Zezhong Xiao

International Review of Economics & Finance, 2025, vol. 103, issue C

Abstract: Based on a unique dataset in China from 2012 to 2021, we find that sell-side financial analysts' social network improves analysts' forecast accuracy. Specifically, we find that analysts with a more central position in social networks based on corporate site visits generally have more face-to-face opportunities to learn from their peers, significantly improving their forecast performance. Such a social learning effect exists when more influential peers attend corporate site visits and when forecasted firms with higher information uncertainty.

Keywords: Sell-side analysts; Social network; Corporate site visits; Social learning; Forecast accuracy (search for similar items in EconPapers)
JEL-codes: G34 G41 M41 O16 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025006641

DOI: 10.1016/j.iref.2025.104501

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