In this paper, we discuss analysts, their roles in capital markets, regulation shocks that affected analysts in recent years, and what we can learn about these issues from academic research. We build upon well-discussed topics such as analysts' conflicts of interest, their tendency towards...

We study how securities analysts influence managers' use of different types of earnings management. To isolate causality, we employ a quasi-experiment that exploits exogenous reductions in analyst following resulting from brokerage house mergers. We find that managers respond to the coverage...