Based on the data of financial statements,analysts‘ earning estimation and New Fortune‘s Analysts Ranking from year of 2005 to 2015,this paper studies the key determinants of analyst that ranked as a star analyst on New Fortune‘s Analysts Ranking.As revealed by the data,the accuracy and forecast frequency of analysts‘ earnings estimation improve the probability of being a star-analyst,while estimation boldness does play an insignificant role in the estimation.Analysts‘ experience and employer do affect the probability of being ranked but both are not the key factors,while estimations indiate that ranked analysts are more conservative than non-ranked analysts.Experience contributes negatively for analysts who are ranked for the 1st time on New Fortune‘s Analysts Ranking,while forecast frequency contributes positively.In conclusion,institutional investors view analysts‘ talent as the most important factor on New Fortune‘s Analysts Ranking and the ranking is a reward for more talented analysts.The conclusion helps financial market players learn the key factors of New Fortune‘s Analysts Ranking,and to guide the investments.
Key words
Analyst /
New fortune‘s best analysts /
Earnings estimation
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