The impact of industry experience on the analysts'professional competitiveness
Using the survival analysis method,this paper empirically studies the impact of industry experience on the professional competitiveness of the analysts.Research findings show that the industry experience has a negative influence on the profession start point of the analysts,but a positive influence on their realization of professional progression.For the professional viability and anticipated performance,the industry experience has no significant impact the professional performance of analysts.Further analysis finds that the tracking of analysts with industry experience can be conducive to reducing the synchronization of stock price and reflecting more heterogeneous information of the firms,which has some positive impact on the improvement of pricing efficiency in the capital market.On the whole,the current access preferences of securities companies may underestimate the industry experience of the analysts to some degree.
industry experienceprofession start pointprofessional viabilityprofessional progression
NETL
NSTL
万方数据
