Do Local Analysts Know More? A Cross-Country Study of the Performance of Local Analysts and Foreign Analysts

By Kee‐Hong Bae, René M. Stulz, Hongping Tan. 2008

663 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/f186087728ea456997e7178e7aa37289b836396d

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Citations in the corpus

Does Information Asymmetry Matter to Equity Pricing? Evidence from Firms’ Geographic Location (2010, neutral): “In analyzing firms from 32 countries, Bae et al. (2008) find that local analysts possess significant information advantages over foreign analysts that manifests in more accurate earnings forecasts.”
Drivers behind the monitoring effectiveness of global institutional investors: Evidence from earnings management (2016, neutral): “Bae et al. (2008) find for a sample of 32 countries that analysts who reside in a country make more precise earnings forecasts for firms in that country than non-resident analysts.”
Before an Analyst Becomes an Analyst: Does Industry Experience Matter? (2015, neutral): “A related strand of literature indicates that geographical proximity to firms influences analysts’ coverage decisions and results in better accuracy (Malloy, 2005; Bae, Stulz, and Tan, 2008; O’Brien and Tan, 2014).”
International GAAP Differences - The Impact on Foreign Analysts (2008, neutral): “Further, even if a single set of global accounting standards were adopted internationally, lax and inconsistent enforcement may result in limited compliance with the standards and diminished comparability (Ball et al. 2003). Our study is closely related to the research that has investigated how acco”
Globalizing the Boardroom - The Effects of Foreign Directors on Corporate Governance and Firm Performance (2012, background): “…See, e.g., Coval and Moskowitz (1999, 2001), Huberman (2001), Grinblatt and Keloharju (2001), Zhu (2002), Ivkovich and Weisbenner (2005), Malloy (2005), Bae, Stulz, and Tan (2008), and Uysal, Kedia, and Panchapagesan (2008). information such as director shareholdings and committee memberships.”
Do foreign investors exhibit a corporate governance disadvantage? An information asymmetry perspective (2010, neutral): “Further, Orpurt (2004) and Bae, Stulz, and Tan (2005) show that local analysts make more precise earnings forecasts than foreign analysts.”
Egalitarianism and International Investment (2011, neutral): “Bae, Stulz, and Tan (2008) argue that local analysts know more about local firms, especially in Please cite this article as: Siegel, J.I., et al., Egalitarianism and (2011), doi:10.1016/j.jfineco.2011.05.010 countries with lower transparency.”
The Determinants and Consequences of Heterogeneous IFRS Compliance Levels Following Mandatory IFRS Adoption: Evidence from a Developing Country (2011, neutral): “Second, Kenyan investors should have lower degrees of information asymmetry with Kenyan firms because they are both domiciled in the same country (Bae et al. 2008).”
Seeing is believing: analysts’ corporate site visits (2016, methodology): “Following prior studies, we control for other variables that affect analysts’ forecast accuracy.”
The Importance of Trust for Investment: Evidence from Venture Capital (2016, background): “[3] Bae, Kee-Hong, René Stulz, and Hongping Tan (2008) ’Do Local Analysts Know More? A Cross-country Study of the Performance of Local Analysts and Foreign Analysts,’ Journal of Financial Economics, 88 (3), 581—606.”
Post-Earnings-Announcement Drift in Global Markets: Evidence from an Information Shock (2014, neutral): “We restrict this analysis to the same region to reflect analyst benchmark protocol (Bae, Stulz, and Tan 2008).”