Rising and Senior Stars in European Financial Analyst Rankings: the Talented and the Famous
Gresse, Carole; Porteu de la Morandière, Laurence (2016), Rising and Senior Stars in European Financial Analyst Rankings: the Talented and the Famous, 23rd MFS annual conference (Multinational Finance Society), 2018-06, Stockholm, Sweden
TypeCommunication / Conférence
External document linkhttps://dx.doi.org/10.2139/ssrn.2474544
Conference title23rd MFS annual conference (Multinational Finance Society)
MetadataShow full item record
Dauphine Recherches en Management [DRM]
Porteu de la Morandière, Laurence
Centre de recherche de l'ESC Pau
Abstract (EN)Using Institutional Investors (I/I) and Extel rankings and I/B/E/S data for European analysts over 15 years, we show that European analyst rankings are determined more by popularity than by intrinsic skills, the first determinant of recognition being employer size. Becoming an I/I star is like joining a club: talent for issuing high-quality recommendations is required to be initially ranked but is irrelevant to being re-elected or reaching the top level. Our findings also underline the importance of analyst rankings’ design features. These features could probably be improved by reducing the impact of recognition in the election process.
Subjects / KeywordsAnalyst forecasts; analyst rankings; reputation; analyst recommendations
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