Zhang, Chenyu; Qian, Aimin; Shi, Xiangyan - In: China journal of accounting research : CJAR 13 (2020) 1, pp. 79-107
We use the share pledge context in China to examine how affiliated analysts whose securities companies are pledgees of share pledge firms issue stock recommendations on these listed firms. We find that their recommendations are more optimistic than those of non-affiliated analysts, and they are...
