Do Analysts Matter for Governance? Evidence from Natural Experiments

By Tao Chen, Jarrad Harford, Chen Lin. 2015

655 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7ed19cfa283e4d288937dc647eb3f5c5125f63dd

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Citations in the corpus

Why Has the Value of Cash Increased Over Time? (2018, neutral): “Chen, Harford, and Lin (2015) conclude that a loss of analyst coverage reduces the value of cash holdings.”
The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2015, background): “…which in turn can increase stock volatility, from Leuz and OberholzerGee (2006) suggesting that transparency and disclosure can be costly to existing political relationships, and from Ball et al. (2015) and Chen et al. (2015) suggesting that IFRS adoption can be costly to debt contracting.”
Analyst Coverage and Real Earnings Management: Quasi-Experimental Evidence (2014, background): “…(2012), Kelly and Ljungqvist (2007), (2012)), real firm performance and corporate policies (Derrien and Kecskes (2013)), innovation (He and Tian (2013)), corporate governance (T. Chen et al. (2015), Irani and Oesch (2013)), and stock liquidity (Balakrishnan, Billings, Kelly, and Ljungqvist (2014)).”
Institutional Cross-Ownership and Corporate Strategy: The Case of Mergers and Acquisitions (2018, neutral): “Our sample begins in 1984 because the information in the SDC database is less reliable before this date (Chen et al., 2007). We require both acquirers and targets to be U.S. publicly traded companies so that we can calculate their institutional cross-ownership. Deal status is either completed or wit”
Political uncertainty and cash holdings: Evidence from China (2016, background): “Third, we document that political uncertainty can affect cash holding decisions in addition to other corporate decisions, such as investments (e.g., Julio and Yook, 2012; An et al., 2015) and tax avoidance (Chen et al., 2015a).”
Information Asymmetry, the Cost of Debt, and Credit Events: Evidence from Quasi-Random Analyst Disappearances (2016, result): “Our results also shed new light on how information flows across financial markets (e.g., Ederington and Goh (1998), Hotchkiss and Ronen (2002), Acharya and Johnson (2007), Cheng and Subramanyam (2008), and Downing, Underwood, and Xing (2009)).”
Does corporate governance quality affect default risk? The role of growth opportunities and stock liquidity (2018, background): “Several empirical studies also suggest natural experiment as a state-of-the-art solution to the endogeneity problem (see e.g., Black et al., 2015; Chen et al., 2015; Gippel et al., 2015).”