Jiraporn, Pornsit; Chintrakarn, Pandej; Kim, Young S. - In: Journal of Banking & Finance 36 (2012) 11, pp. 3091-3100
We use agency theory to explore how analyst coverage is influenced by the managerial entrenchment associated with the … role of analyst coverage in improving firm value. Our results confirm the notion that analysts, as information … intermediaries, provide oversight over management and thus help alleviate agency conflicts. The positive effect of analyst coverage …