| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5086974 | Journal of Accounting and Economics | 2009 | 4 Pages |
Abstract
Wu and Zang [2009. What determines financial analysts' career outcomes during mergers? Journal of Accounting & Economics, forthcoming] examine how mergers and acquisitions in the investment banking/brokerage industry affect financial analyst employment. They find evidence of abnormally high analyst turnover following mergers that appears to reflect the acquirer's elimination of duplicate research capabilities and top analysts at the newly merged firm being hired away by competitors. Finally, they show that the increased analyst turnover at merged firms is related to decreases in analyst coverage and analyst performance post-merger.
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Social Sciences and Humanities
Business, Management and Accounting
Accounting
Authors
Paul M. Healy,