Mary Benner of the Carlson School of Management at University of Minnesota recently reviewed “Wall Street Research: Past, Present, and Future” in the OnlineFirst section of Administrative Science Quarterly.
From the Review:
Groysberg and Healy’s book is useful for scholars studying analysts. Questions often arise for those of us doing research on sell-side analysts: What do analysts do? How are they managed? What are their incentives? Fortunately, we can now go to chapter 2 of this book, titled “What Do Analysts Do and How Are They Managed?” The book provides some useful insights into the incentives analysts face and differences in the incentives faced by sell-side analysts (those working for investment banks or brokerage firms) and buy-side analysts (those working for institutional investors). Similarly, discussions about the timing and content of the Global Settlement and Regulation Fair Disclosure are important for understanding the major shifts in analysts’ incentives and coverage induced by changes in the law. This is useful for researchers thinking about the potential exogenous changes affecting how analysts are funded and how they do their jobs.
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