Moyer, R. Charles; Chatfield, Robert E.; Sisneros, … - In: Journal of Financial and Quantitative Analysis 24 (1989) 04, pp. 503-512
This paper explores the determinants of monitoring activity provided by security analysts. Jensen and Meckling have argued that analysts play the role of monitors of managerial performance as a means of reducing agency costs of debt and equity. The other major role analysts play is that of...