Under pressure: The causal effect of financial analyst coverage on long-Term capital investments

Mark R. Desjardine

doi:10.5465/AMBPP.2015.72

Under pressure: The causal effect of financial analyst coverage on long-Term capital investments

Mark R. Desjardine

Smeal College of Business

Research output: Contribution to journal › Conference article › peer-review

4 Scopus citations

Abstract

This study examines whether coverage from financial analysts causes corporate shorttermism by affecting the horizons of firms' capital investments. I hypothesize and empirically illustrate that greater analyst coverage leads to more pressure on managers to perform in the short term, which biases firms away from making longer-Term capital investments.

Original language	English (US)
Pages (from-to)	846-851
Number of pages	6
Journal	Academy of Management Annual Meeting Proceedings
DOIs	https://doi.org/10.5465/AMBPP.2015.72
State	Published - 2015
Event	75th Annual Meeting of the Academy of Management, AOM 2015 - Vancouver, Canada Duration: Aug 7 2015 → Aug 11 2015

All Science Journal Classification (ASJC) codes

Management Information Systems
Management of Technology and Innovation
Industrial relations

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.5465/AMBPP.2015.72

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title = "Under pressure: The causal effect of financial analyst coverage on long-Term capital investments",

abstract = "This study examines whether coverage from financial analysts causes corporate shorttermism by affecting the horizons of firms' capital investments. I hypothesize and empirically illustrate that greater analyst coverage leads to more pressure on managers to perform in the short term, which biases firms away from making longer-Term capital investments.",

author = "Desjardine, \{Mark R.\}",

year = "2015",

doi = "10.5465/AMBPP.2015.72",

language = "English (US)",

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journal = "Academy of Management Annual Meeting Proceedings",

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note = "75th Annual Meeting of the Academy of Management, AOM 2015 ; Conference date: 07-08-2015 Through 11-08-2015",

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AB - This study examines whether coverage from financial analysts causes corporate shorttermism by affecting the horizons of firms' capital investments. I hypothesize and empirically illustrate that greater analyst coverage leads to more pressure on managers to perform in the short term, which biases firms away from making longer-Term capital investments.

UR - https://www.scopus.com/pages/publications/85026368859

UR - https://www.scopus.com/pages/publications/85026368859#tab=citedBy

U2 - 10.5465/AMBPP.2015.72

DO - 10.5465/AMBPP.2015.72

M3 - Conference article

AN - SCOPUS:85026368859

SN - 0065-0668

SP - 846

EP - 851

JO - Academy of Management Annual Meeting Proceedings

JF - Academy of Management Annual Meeting Proceedings

Y2 - 7 August 2015 through 11 August 2015

ER -

Under pressure: The causal effect of financial analyst coverage on long-Term capital investments

Abstract

All Science Journal Classification (ASJC) codes

UN SDGs

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