Welcome to my research page

I am primarily interested in learning about sell-side analysts, how they collect information, and help their clients. Over the years, my research has focused on understanding the factors that contribute to the value that they add to capital markets and how they acquire information from various sources.

Here are a few snippets of information about some of my research papers. Please feel free to reach out to me if you have questions or are interested in collaborating on projects related to these areas.

Giving Retail Investors a Say in Disclosure

Thanks to technological innovations, retail investors of some companies can now interact with corporate leaders and elicit information from them. This project studies what motivates managers to attend to retail investors' information needs, how their interactions affect disclosure overall and the importance of analysts relative to retail investors. The project also tests whether retail investors' ability to ask managers questions helps them produce private information.

For more information on this paper, please click here.

The Value of Eliciting Information: Evidence from Sell-Side Analysts

The ability to elicit information is a critical skill that many analysts and other information agents strive to master. This paper develops and validates a novel approach to measure analysts’ skill in eliciting information and studies its relation with analysts’ performance.

For more information on this paper, please click here.

Earnings Guidance Stoppage and the Value of Financial Analysts’ Research

In this paper my co-authors Dan Palmon, Xuan Peng, and I examine the relation between voluntary disclosure and the value of analysts’ research by studying the change in the informativeness of analysts’ research after managers stop providing quarterly guidance to investors. We find that the market reaction to analysts’ recommendation revisions increases significantly after guidance stoppage, controlling for confounding factors, as well as firm and time fixed effects.

For more information on this paper, please click here.