Boubakri, Narjess; El Ghoul, Sadok; Guedhami, Omrane; … - Department of Economics, School of Business Management
This study investigates whether financial analysts play a governance role in international debt markets by examining the link between analyst forecast characteristics and the cost of debt financing. Using a sample of 2,686 bond issues from 35 non-U.S. countries, we find statistically and...