We investigate ceo turnover in the Italian financial market analyzing a dataset covering the period 1992-2003 for all listed companies. The likelihood of ceo turnover is higher for poorly performing companies, unless the company is controlled by a family. Managers’ entrenchment is observed:...

We evaluate the herding phenomenon among analysts who produce reports on stocks listed at the Italian stock exchange. We apply a methodology similar to that employed in Welch (2000) for the US stock market. We show that analysts recommendations are affected by the consensus among the analysts or...