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Do Analysts Who Move Markets Have Better Careers?

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  • Vadim S. Balashov

Abstract

In this article I investigate the association between analysts’ ability to issue influential recommendations and their career outcomes. The fraction of recommendations that are defined as influential are linked to a higher probability of an analyst moving to a higher status brokerage house, and a lower probability of either being demoted to a lower status brokerage house or leaving the profession. Analysts who more often issue influential recommendations also have a higher chance of being ranked by Institutional Investor All†America, having longer careers, and experiencing lower job turnover compared to peers.

Suggested Citation

  • Vadim S. Balashov, 2018. "Do Analysts Who Move Markets Have Better Careers?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 41(2), pages 181-212, June.
    • Handle: RePEc:bla:jfnres:v:41:y:2018:i:2:p:181-212
    DOI: 10.1111/jfir.12144
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    Cited by:

    1. Vadim S. Balashov & Zhanel B. DeVides, 2020. "Is Diversification A Job Safety Net For Sell‐Side Analysts?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(3), pages 543-573, August.

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