The Impact of Security Analysts' Monitoring and Marketing Functions on the Market Value of Firms

@article{Chung1996TheIO,
  title={The Impact of Security Analysts' Monitoring and Marketing Functions on the Market Value of Firms},
  author={K. Chung and H. Jo},
  journal={Journal of Financial and Quantitative Analysis},
  year={1996},
  volume={31},
  pages={493-512}
}
  • K. Chung, H. Jo
  • Published 1996
  • Economics
  • Journal of Financial and Quantitative Analysis
  • In this study, we examine the impact of security analysts' monitoring and marketing functions on firms' market value. We postulate that security analysts' monitoring of corporate performance helps motivate managers, thus reducing the agency costs associated with the separation of ownership and control. We also argue that the information intermediary function provided by security analysts helps expand the breadth of investor cognizance. Consistent with these conjectures, this study finds that… CONTINUE READING
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