Kadan, Ohad; Madureira, Leonardo; Wang, Rong; Zach, Tzachi - In: Journal of Accounting and Economics 54 (2012) 2, pp. 95-120
Industry expertise is an important aspect of sell-side research. We explore this aspect using a novel dataset of industry recommendations, which are often issued by strategy analysts. We study sell-side analysts' ability to rank industries relative to each other (across-industry expertise), and...