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Can Analyst Tracking Be Able to Curb Violations of Chinese Listed Companies?

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DOI: 10.25236/icefbd.18.084


Xiao Zhang, Yi Wang

Corresponding Author

Xiao Zhang


This paper takes China's 2007-2016 A-share listed company as a research sample and uses Probit and Bivariate Probit estimation methods to study the relationship between analyst tracking and company violations. The study found that analysts track the impact of corporate violations on two sides, and analyst tracking effectively curbed corporate violations; however, when a company violates regulations, analyst tracking reduces the probability of a company being audited. The conclusions of this paper indicate that the role of analyst governance in China's capital market has certain limitations.


Analyst Follow, Company Violations, Corporate Governance