(Download) "Small Firm Governance and Analyst Following." by Academy of Accounting and Financial Studies Journal # Book PDF Kindle ePub Free
eBook details
- Title: Small Firm Governance and Analyst Following.
- Author : Academy of Accounting and Financial Studies Journal
- Release Date : January 01, 2010
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 264 KB
Description
INTRODUCTION A number of studies have investigated the factors that influence analysts' decisions to provide coverage of a firm's stock. These studies generally find that smaller firms and firms with lower trading volume are followed by fewer analysts. (1) The evidence suggests analysts have greater incentives to cover firms that are more likely to produce higher brokerage or investment banking income for the analyst's employer. Given the important role analysts play in transmitting firm information to investors, the reluctance of analysts to follow small firms potentially exacerbates the asymmetric information problem (between managers and outside shareholders) for these firms. (2)
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