What Determine Financial Analysts' Career Outcomes During Mergers?

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Do Analysts Matter for Governance? Evidence from Natural Experiments (2015, methodology): “We also utilize the information contained in BAID in I/B/E/S as explained in Wu and Zang (2009).”
The Dark Side of Analyst Coverage: The Case of Innovation (2013, unknown): “When brokerage houses merge , they typically fire analysts because of redundancy and potentially lose additional analysts for other reasons like merger turmoil and culture clash ( Wu and Zang , 2009 ) .”
Analysts’ Forecasts and Asset Pricing: A Survey (2016, unknown): “Despite the lack of evidence for an impact of accuracy on analyst compensation, research documents a strong relation between analysts’ accuracy and other career outcomes (e.g., Mikhail et al. 1999; Hong et al. 2000; Wu and Zang, 2009; and Groysberg et al., 2011).”
Does Information Asymmetry Affect Corporate Tax Aggressiveness? (2017, background): “As documented by Wu and Zang (2009), when two brokerage firms merge, they typically fire analysts due to redundancy or cultural clashes.”