NDLI: Research on the effect of diversification strategy on analyst following in Chinese listed companies

Content Provider	IEEE Xplore Digital Library
Author	Song Hai-xu Wang Fu-sheng
Copyright Year	2011
Description	Author affiliation: School of Economics and Management, Harbin Institute of Technology, P.R. China, 150001 (Song Hai-xu; Wang Fu-sheng)
Abstract	This paper did a research on the relationship between diversification strategy and analyst following. Firstly it analyzed how diversification strategy affected on analyst following in theory. And then it did an empirical study between them by two-stage least squares(2SLS), choosing 299 listed companies in Shanghai stock market from 2007 to 2009 as research samples. The result showed that the companies' diversified degree had negative correlation with analyst following significantly. The reason might be that diversified companies are more complex than specialized ones and securities analysts would pay more information cost on the former. So considering their private benefit, analysts will care more about specialized companies than diversified ones. The findings could provide inspiration for company management, investors and other participators in securities market.
Starting Page	817
Ending Page	822
File Size	114298
Page Count	6
File Format	PDF
ISBN	9781457718854
ISSN	21551855
e-ISBN	9781457718885
DOI	10.1109/ICMSE.2011.6070054
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-09-13
Publisher Place	Italy
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Industries information cost Analytical models Correlation analyst following diversification strategy Government Companies Mathematical model Security information gathering
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in