中国证券分析师能反映公司特质信息吗?——基于股价波动同步性和分析师跟进的证据被引量：57

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摘要 2005-2009年沪深A股上市公司为样本,用股价波动同步性作为公司特质信息的代理变量,我们研究中国证券分析师跟进行为对资本市场信息传递效率的影响。研究结果表明,证券分析师跟进与股价波动同步性正相关。借用Chan和Hameed(2006)的说法,就是中国证券分析师较少反映公司特质信息,而更多地反映来自市场层面的信息,这和Piotroski和Roulstone(2004)等人关于美国证券市场的研究结论相一致。

作者冯旭南李心愉

机构地区上海交通大学安泰经济与管理学院北京大学经济学院

出处《经济科学》 CSSCI 北大核心 2011年第4期99-106,共8页 Economic Science

关键词证券分析师股价波动同步性分析师跟进

分类号 F832.51 [经济管理—金融学]

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参考文献11

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