Abstract
This paper provides evidence of gender heterogeneity in stock recommendations issued by analysts in China. The study finds that compared to male analysts, female analysts tend to have more conservative stock recommendations and lower levels of optimism. Male analysts are more likely to issue "buy" and "hold" recommendations, while female analysts are more likely to issue more conservative "neutral," "sell," and "reduce" recommendations. In the short term, the market reacts strongly to the ratings of female analysts, but their optimistic recommendations receive a poor response from investors. Investors may hold stereotypical beliefs towards female analysts, expecting them to adopt conservative strategies, and thus underestimate them when they make relatively optimistic suggestions. However, in the long term, there is no evident bias against female analysts in the market.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
