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

UN SDGs

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

SDG 9 Industry, Innovation, and Infrastructure

All Science Journal Classification (ASJC) codes

Management Information Systems
Management of Technology and Innovation
Industrial relations

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10.5465/AMBPP.2015.72

Cite this

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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",

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language = "English (US)",

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journal = "Academy of Management Annual Meeting Proceedings",

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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.

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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

UN SDGs

All Science Journal Classification (ASJC) codes

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