Common institutional ownership and analyst earnings forecasts

Jiachen Wang, Xinmin Tian and Xiaoyue Ma

International Review of Economics & Finance, 2024, vol. 96, issue PA

Abstract: This research investigates the impact of shared institutional ownership on the accuracy of analysts' predictions. Drawing from theoretical frameworks, we have formulated and empirically tested our research hypotheses. The results indicate a negative correlation between shared institutional ownership and the precision of analysts' forecasts. Additionally, peer pressure has been found to mediate this relationship. Furthermore, ownership type has been identified as an intermediary factor, with state-owned enterprises exhibiting a more significant negative effect.

Keywords: Common institutional ownership; Analyst earnings forecasts; Peer group power; Mediating effect; Moderating effect (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:96:y:2024:i:pa:s1059056024005148

DOI: 10.1016/j.iref.2024.103522

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