dc.contributor.author | Horton, J | |
dc.contributor.author | Serafeim, G | |
dc.contributor.author | Wu, S | |
dc.date.accessioned | 2017-03-28T07:27:26Z | |
dc.date.issued | 2017-03-29 | |
dc.description.abstract | We study how career concerns influence banking analysts’ forecasts. Banking analysts’ first
(last) earnings forecast of the year is relatively more optimistic (pessimistic) for a bank that
could be their future employer. This pattern is not observed when the same analysts forecast
earnings of banks unlikely to be their future employer. We use the Global Settlement as an
exogenous shock on career concerns and show that this forecast pattern is more pronounced
after the Settlement. Moreover, we find evidence that more biased analysts in their forecasts
of potential future employers are more likely to move to a higher reputation bank. | en_GB |
dc.identifier.citation | Vol. 63, Iss. 2–3, April–May 2017, pp. 231–252 | en_GB |
dc.identifier.doi | https://doi.org/10.1016/j.jacceco.2017.03.003 | |
dc.identifier.uri | http://hdl.handle.net/10871/26814 | |
dc.language.iso | en | en_GB |
dc.publisher | Elsevier | en_GB |
dc.rights.embargoreason | Publisher's policy. | en_GB |
dc.title | Career Concerns of Banking Analysts | en_GB |
dc.type | Article | en_GB |
dc.identifier.issn | 0165-4101 | |
dc.description | Article | en_GB |
dc.description | This is the author accepted manuscript. The final version is available from Elsevier via the DOI in this record. | |
dc.identifier.journal | Journal of Accounting and Economics | en_GB |