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研究生: 廖仲翔
Liao, Chung-Hsiang
論文名稱: 股吧投資專家對分析師停止追蹤影響之探究
Exploring the Impacts of Gub's Investment Experts on Stop Coverage of Analysts
指導教授: 陳慧玲
Chen, Huei-Ling
口試委員: 林孝倫
Lin, Hsiao-Lun
林瑞青
Lin, Jui-Ching
陳慧玲
Chen, Huei-Ling
口試日期: 2023/07/26
學位類別: 碩士
Master
系所名稱: 管理研究所
Graduate Institute of Management
論文出版年: 2024
畢業學年度: 112
語文別: 英文
論文頁數: 54
中文關鍵詞: 股吧投資專家停止追蹤分析師能力產業經驗
英文關鍵詞: Gub's investment experts, stop coverage, analyst ability, industry experience
研究方法: 實驗設計法
DOI URL: http://doi.org/10.6345/NTNU202400555
論文種類: 學術論文
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  • 近年來,隨著網路的普及,投資專家在網路投資平台所發表的意見逐漸受到投資者的重視。對於分析師而言,形成一定程度的壓力。當具有影響力的股吧投資專家開始追蹤一家公司時,他們可能會影響分析師繼續追蹤該公司的決定。本研究檢視當具有影響力的股吧投資專家開始追蹤一家公司,對於發佈不同相對盈餘預測偏頗、能力和產業經驗的分析師停止追蹤該公司之影響。

    實證結果顯示,當具有影響力的股吧投資專家開始追蹤一家公司時,能力較低或產業經驗較短的分析師較可能停止追蹤該公司。實證結果亦顯示,當具有影響力的股吧投資專家開始追蹤一家公司時,最初發布樂觀偏頗盈餘預測的分析師並未顯著較可能停止追蹤該公司。

    In recent years, with the popularization of the Internet, investment experts’ opinions on online investment platforms have gradually been valued by investors. For analysts, it creates a certain level of pressure. When influential Gub investment experts start following a firm, they may influence the analysts’ decision to keep tracking the company. This study investigates the impact of influential Gub investment experts who start following a firm on the drop decisions of analysts with different relative earnings forecast biases, ability, and industry experiences.

    The empirical results demonstrate that when influential Gub investment experts start following a firm, analysts with low ability or short industry experience are likelier to stop covering the firm. The empirical results also present that when influential Gub investment experts start following a firm, analysts who initially issued optimistic and biased earnings forecasts are not significantly likelier to drop the firm.

    1. Introduction 1 2. Literature Review 3 2.1 Analyst Coverage 3 2.2 Analysts’ ability and industry experience 5 2.3 Platform of stock investment 8 2.4 Stock Bar 10 2.5 Analysts' optimistic earnings forecast 12 3. Research Methodology 15 3.1 Hypotheses 15 3.2 Research Model 23 4. Empirical Results 25 4.1 Sample Selection 25 4.2 Descriptive Statistics 27 4.3 Correlation 30 4.4 The Results of Univariate Analyses 32 4.5 The Results of Multivariate Analyses 34 4.6 The Results of Robustness Tests 40 5. Conclusions and Suggestions 47 5.1 Conclusions 47 5.2 Suggestions 50 References 52 1. Chinese Section 52 2. English Section 52

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