Sell‐Side Analysts as Social Intermediaries

Guangyu Li; Crawford Spence; Zhong Chen

doi:10.1111/1911-3846.12968

Sell‐Side Analysts as Social Intermediaries

Guangyu Li^*, Crawford Spence, Zhong Chen

^*Corresponding author for this work

Accounting & Financial Management

City, University of London

Research output: Contribution to journal › Article › peer-review

9 Downloads (Pure)

Abstract

Recent research on sell-side analysts emphasizes the centrality of social ties and social interactions to what they do. However, we know little about how analysts create or maintain relationships over both the short and long terms. We remedy that in this qualitative study by illustrating the microlevel processes that analysts engage in as part of developing a network of relations around them. Starting from the premise that economic actions are embedded in social relations and drawing on interviews with analysts, fund managers, and investor relations officers in China, we show how analysts forge both weak and strong social ties to create an infrastructure of social networks that is foundational to information intermediation. This perspective broadens our understanding of sell-side analysts as social, rather than solely information, intermediaries and highlights how information asymmetries often have a social basis.

Original language	English
Pages (from-to)	1925-1951
Number of pages	27
Journal	Contemporary Accounting Research
Volume	41
Issue number	3
Early online date	6 Aug 2024
DOIs	https://doi.org/10.1111/1911-3846.12968
Publication status	Published - 1 Sept 2024

Access to Document

10.1111/1911-3846.12968Licence: CC BY

Manuscript_AnalystAccepted author manuscript, 444 KB

Cite this

@article{eb8b3194d5244e7ca54a520b903264dd,

title = "Sell‐Side Analysts as Social Intermediaries",

abstract = "Recent research on sell-side analysts emphasizes the centrality of social ties and social interactions to what they do. However, we know little about how analysts create or maintain relationships over both the short and long terms. We remedy that in this qualitative study by illustrating the microlevel processes that analysts engage in as part of developing a network of relations around them. Starting from the premise that economic actions are embedded in social relations and drawing on interviews with analysts, fund managers, and investor relations officers in China, we show how analysts forge both weak and strong social ties to create an infrastructure of social networks that is foundational to information intermediation. This perspective broadens our understanding of sell-side analysts as social, rather than solely information, intermediaries and highlights how information asymmetries often have a social basis.",

author = "Guangyu Li and Crawford Spence and Zhong Chen",

note = "Publisher Copyright: {\textcopyright} 2024 The Author(s). Contemporary Accounting Research published by Wiley Periodicals LLC on behalf of Canadian Academic Accounting Association.",

year = "2024",

month = sep,

day = "1",

doi = "10.1111/1911-3846.12968",

language = "English",

volume = "41",

pages = "1925--1951",

journal = "Contemporary Accounting Research",

issn = "0823-9150",

publisher = "John Wiley & Sons, Inc",

number = "3",

}

TY - JOUR

T1 - Sell‐Side Analysts as Social Intermediaries

AU - Li, Guangyu

AU - Spence, Crawford

AU - Chen, Zhong

PY - 2024/9/1

Y1 - 2024/9/1

N2 - Recent research on sell-side analysts emphasizes the centrality of social ties and social interactions to what they do. However, we know little about how analysts create or maintain relationships over both the short and long terms. We remedy that in this qualitative study by illustrating the microlevel processes that analysts engage in as part of developing a network of relations around them. Starting from the premise that economic actions are embedded in social relations and drawing on interviews with analysts, fund managers, and investor relations officers in China, we show how analysts forge both weak and strong social ties to create an infrastructure of social networks that is foundational to information intermediation. This perspective broadens our understanding of sell-side analysts as social, rather than solely information, intermediaries and highlights how information asymmetries often have a social basis.

AB - Recent research on sell-side analysts emphasizes the centrality of social ties and social interactions to what they do. However, we know little about how analysts create or maintain relationships over both the short and long terms. We remedy that in this qualitative study by illustrating the microlevel processes that analysts engage in as part of developing a network of relations around them. Starting from the premise that economic actions are embedded in social relations and drawing on interviews with analysts, fund managers, and investor relations officers in China, we show how analysts forge both weak and strong social ties to create an infrastructure of social networks that is foundational to information intermediation. This perspective broadens our understanding of sell-side analysts as social, rather than solely information, intermediaries and highlights how information asymmetries often have a social basis.

UR - http://www.scopus.com/inward/record.url?scp=85200547699&partnerID=8YFLogxK

U2 - 10.1111/1911-3846.12968

DO - 10.1111/1911-3846.12968

M3 - Article

SN - 0823-9150

VL - 41

SP - 1925

EP - 1951

JO - Contemporary Accounting Research

JF - Contemporary Accounting Research

IS - 3

ER -

Sell‐Side Analysts as Social Intermediaries

Abstract

Access to Document

Other files and links

Fingerprint

Cite this