Do investor preferences affect analyst research? Evidence from Chinese dual-listed shares

• 成果类型: Article
• 署名作者: Matsumoto, Dawn; Li Zhang, Jenny; Zheng, Yuxiang
• 署名单位: University of Washington; University of Washington Seattle; University of British Columbia; Rutgers University System; Rutgers University Camden; Rutgers University New Brunswick
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101; 1879-1980
• DOI: 10.1016/j.jacceco.2026.101897
• 发表日期: 2026-08
• 页码: 101897
• 关键词: Analyst research; stock recommendations; Investor catering; Dual-listed shares; market liberalization; EARNINGS FORECASTS; BIAS

摘要

We thank the conference participants of the University of Illinois-Chicago Accounting Conference and workshop participants at the University of Notre Dame, Fordham University, Chinese University of Hong Kong for their comments and suggestions. A related version of this paper benefited from the comments of participants at the 2021 HARC Conference and the 2021 FARS Conference, as well as Darren Bernard, Russell Lundholm, Jason Huafeng Chen, Charles Lee, Jesse Chan (discussant), and the workshop participants at the University of Washington, York University, Saint Mary's University, Stanford University, and University of Waterloo. Matsumoto would like to thank the Marion Ingersoll Professorship at the University of Washington for financial support. Zhang acknowledges the financial support from the Social Sciences and Humanities Research Council of Canada (SSHRC) and the Ronald L. Cliff Professorship.