Wall Street analysts as investor relations officers

Hope, Ole‐Kristian; Huang, Zhongwei; Moldovan, Rucsandra

doi:10.1016/j.jcorpfin.2021.101893

Cited by 13 publications

(9 citation statements)

References 82 publications

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“…We encourage future research to consider other members of the TMT. For example, recent evidence suggests that investor relations officers (IROs) play an important role in shaping their firm's disclosure policy (Brown et al 2019) and that IROs with prior experience as financial analysts can better communicate with investors (Hope et al 2021). The general counsel is another important position that can influence corporate disclosure.…”

Section: Managers and Directorsmentioning

confidence: 99%

Behavioral Economics of Accounting: A Review of Archival Research on Individual Decision Makers*

Hanlon

Yeung

Zuo

2021

Contemporary Accting Res

112

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This paper develops a unified framework to synthesize the growing stream of positive research on the role of individual decision makers in shaping observed accounting phenomena. This line of research recognizes two central ideas in behavioral economics. First, individual behavior depends not only on economic incentives and accessible information but also on individual preferences, abilities, experiences, and other characteristics. Second, the constraints that structure human interactions encompass both formal institutions (e.g., rules, laws, constitutions) and informal institutions (e.g., norms, conventions, rituals). Our review covers a broad set of individuals who are of interest in accounting research: managers, directors, audit partners, analysts, standard setters, politicians, judges, journalists, loan officers, financial advisors, and investors. We aim to understand the systematic effects of individual characteristics on a wide spectrum of accounting phenomena, including financial reporting, disclosure, tax planning, auditing, and corporate social responsibility. We highlight the importance of personal characteristics not only for an individual's own behavior but also for others' perceptions. Our review mainly focuses on archival research in accounting and provides some thoughts about opportunities for archival empiricists going forward. We also, when feasible, highlight opportunities for future field, survey, and experimental research. A central takeaway from our review is that individual‐level factors significantly improve our ability to explain and predict accounting phenomena beyond firm‐, industry‐, and market‐level factors.

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Section: Managers and Directorsmentioning

confidence: 99%

Behavioral Economics of Accounting: A Review of Archival Research on Individual Decision Makers*

Hanlon

Yeung

Zuo

2021

Contemporary Accting Res

112

View full text Add to dashboard Cite

show abstract

“…This liquidity improvement effect is also observed when a former analyst is hired by the firm as an "investor relations officers'(Hope et al, 2021).…”

mentioning

confidence: 66%

Investment and access to external finance in Europe: Does analyst coverage matter?

Galanti

Leroy²,

Vaubourg³

2022

International Review of Financial Analysis

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“…Further, Chahine et al. (2020) show that hiring IR consultants prior to going public increases news coverage and is associated with higher first-day returns, while Hope et al. (2021) show that hiring Wall Street analysts as IR officers is beneficial.…”

Section: Literature Review and Contributionmentioning

confidence: 99%