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  • 29 Mar 2018
  • Working Paper Summaries

Government Incentives and Financial Intermediaries: The Case of Chinese Sell-Side Analysts

Keywords: by Sheng Cao, Xianjie He, Charles C.Y. Wang, and Huifang Yin; Financial Services
  • 2025
  • Working Paper

Government-Brokerage Analysts and Market Stabilization: Evidence from China

By: Sheng Cao, Xianjie He, Charles C.Y. Wang and Huifang Yin
We show analysts at government-controlled brokerage firms serve as a market stabilization tool in China. Using earnings forecasts from 2005–2019, we find government-brokerage analysts issue relatively more optimistic—yet less accurate and timely—forecasts during... View Details
Keywords: Sell-side Analysts; Forecast Optimism; Forecast Accuracy; Government Incentives; Market Stabilization; Government Ownership; Coordinated Economies; Stocks; Forecasting and Prediction; Business and Government Relations; Emerging Markets
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  • 27 Mar 2018
  • First Look

First Look at New Research, March 27, 2018

(benefits) for firms with weak (strong) nonfinancial performance and disclosure. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=54302 Government Incentives and Financial Intermediaries:... View Details
Keywords: Sean Silverthorne