IDEAS home Printed from https://ideas.repec.org/a/eme/rbfpps/rbf-08-2021-0148.html
   My bibliography  Save this article

Does competition in product markets affect the value of analyst coverage? Evidence from an emerging market

Author

Listed:
  • Omar Farooq
  • Fatimazahra Bendriouch
  • Harit Satt
  • Saad Archane

Abstract

Purpose - This paper aims to document the impact of product market competition on the value of analyst coverage. Design/methodology/approach - This paper uses variety of estimation techniques (panel regression as well as the quantile regression approaches) and the data for nonfinancial firms from India to document the impact of product market competition on the value of analyst coverage during the period between 2001 and 2018. Findings - The findings show that the value of analyst coverage is an increasing function of product market competition. The authors argue that better information environment associated with firms operating in industries with high competition improves the quality of research done by analysts, thereby increasing the value of analyst coverage. The study results are consistent across different subsample and remain quantitatively the same when the authors use alternate estimation procedures. Originality/value - The paper provides evidence regarding the role played by product market competition – a publicly available measure – on the value of research produced by analysts within the context of emerging markets.

Suggested Citation

  • Omar Farooq & Fatimazahra Bendriouch & Harit Satt & Saad Archane, 2022. "Does competition in product markets affect the value of analyst coverage? Evidence from an emerging market," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 15(3), pages 396-409, January.
    • Handle: RePEc:eme:rbfpps:rbf-08-2021-0148
    DOI: 10.1108/RBF-08-2021-0148
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/RBF-08-2021-0148/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/RBF-08-2021-0148/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/RBF-08-2021-0148?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:rbfpps:rbf-08-2021-0148. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.