Inside the 'Black Box' of Sell-Side Financial Analysts

@article{Brown2015InsideT,
  title={Inside the 'Black Box' of Sell-Side Financial Analysts},
  author={Lawrence D. Brown and Andrew C. Call and Michael B. Clement and Nathan Y. Sharp},
  journal={Journal of Accounting Research},
  year={2015},
  volume={53},
  pages={1-47}
}
Our objective is to penetrate the “black box” of sell-side financial analysts by providing new insights into the inputs analysts use and the incentives they face. We survey 365 analysts and conduct 18 follow-up interviews covering a wide range of topics, including the inputs to analysts’ earnings forecasts and stock recommendations, the value of their industry knowledge, the determinants of their compensation, the career benefits of Institutional Investor All-Star status, and the factors they… Expand
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What Drives Sell-Side Analyst Compensation at High-Status Investment Banks?
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