Sell-side financial analyst social network and forecast accuracy

Li, Mengjia, Ding, Wenjie, Li, Hao, Wang, Qingwei ORCID: https://orcid.org/0000-0002-3695-7846 and Xiao, Jason Zezhong 2025. Sell-side financial analyst social network and forecast accuracy. International Review of Economics & Finance 103 , 104501. 10.1016/j.iref.2025.104501

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Abstract

Based on a unique dataset in China from 2012 to 2021, we find that sell-side financial analysts’ social network improves analysts’ forecast accuracy. Specifically, we find that analysts with a more central position in social networks based on corporate site visits generally have more face-to-face opportunities to learn from their peers, significantly improving their forecast performance. Such a social learning effect exists when more influential peers attend corporate site visits and when forecasted firms with higher information uncertainty.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Publisher:	Elsevier
ISSN:	1059-0560
Date of First Compliant Deposit:	15 August 2025
Date of Acceptance:	6 August 2025
Last Modified:	02 Sep 2025 10:45
URI:	https://orca.cardiff.ac.uk/id/eprint/180427

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