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Web of Proceedings - Francis Academic Press
Web of Proceedings - Francis Academic Press

Research on the Factors Affecting Analysts' Tracking and Infringement of Listed Companies

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DOI: 10.25236/icepms.2018.167


Xiao Zhang, Yi Wang

Corresponding Author

Xiao Zhang


This paper takes the 2007-2016 data of China's Shanghai and Shenzhen A-shares as the research object, adopts Probit and Bivariate Probit estimation methods, and discusses the factors affecting analysts' tracking and violation of listed companies based on the nature of equity and institutional investors. The study found that analysts' tracking of corporate violations is stronger in state-owned enterprises, but the relationship between analysts and company audits is not affected by the nature of the company's equity; in companies with a high proportion of institutional investors, the more obvious the role of analysts in suppressing corporate violations.


Analyst Tracking, Company Violations, Equity Nature, Institutional Investors