Financial Analysts and Their Contribution to Well-Functioning Capital Markets

Mark Bradshaw, Yonca Ertimur and Patricia O'Brien

Foundations and Trends(R) in Accounting, 2017, vol. 11, issue 3, 119-191

Abstract: Well-functioning capital markets rely on a complex set of institutions and participants that ensure capital is allocated to its best possible use, and that information flows between firms receiving capital and the investors who provide it. In this manuscript, we endeavor to understand whether, how, and under what circumstances sell-side research contributes to the functioning of capital markets. We review major findings in the literature, address significant regulatory and technological changes, and offer suggestions for future research.

Keywords: Analysts; Sell-side research; Capital markets; Accounting information (search for similar items in EconPapers)
JEL-codes: G10 M41 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (23)

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Persistent link: https://EconPapers.repec.org/RePEc:now:fntacc:1400000042

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