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| Author: | Clarke, J. (et al.) |
| Title: | The impact of all-star analyst job changes on their coverage choices and investment banking deal flow |
| Journal: | Journal of Financial Economics
2007 : JUN, VOL. 84:3, p. 713-737 |
| Index terms: | banking investment banks market share conflict |
| Freeterms: | relationships analyst coverage |
| Language: | eng |
| Abstract: | Based on a sample of all-star analysts switching investment banks, this paper explores 1. whether analyst behaviour (hereafter as: anal-beh.) is influenced by banking relationships and 2. whether anal-beh. affects investment banking (here as: inv-b-g.) deal flow. There is found no evidence that analysts change their optimism or recommendation levels when joining a new firm. Inv-b-g. deal flow is related to analyst reputation only for equity transactions etc. |
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