Finance
Do analysts impound information on CEO social connections in their stock recommendations?
Kuang, Y.F | Qin, B.
MCA, 2016
A new CEO’s internal and external connectedness exhibit distinct effects. More specifically, the favorability of analysts’ recommendations decreases with a new CEO’s connectedness with the current board directors prior to the appointment, whereas a CEO’s connectedness with directors outside the firm is positively associated with the favorability of analysts’ recommendations.
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