Abstract
We examine the effects the Chartered Financial Analyst® (CFA) designation program has on recommendation performance and career outcomes of the analysts who complete the CFA Program and become CFA charterholders. For these analysts, both their recommendation performance and their chances of making Institutional Investor’s All-America Research Team increased during the 1993–2015 period. These effects are attributable to the CFA Program curriculum. The results remain largely stable over the pre- and post-2000 subperiods, and they survive an array of robustness checks.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 70-83 |
| Number of pages | 14 |
| Journal | Financial Analysts Journal |
| Volume | 74 |
| Issue number | 2 |
| State | Published - Jan 1 2018 |
Fingerprint
ASJC Scopus subject areas
- Accounting
- Finance
- Economics and Econometrics
Cite this
Sell-side financial analysts and the CFA® program. / Kang, Qiang; Li, Xi; Su, Tie.
In: Financial Analysts Journal, Vol. 74, No. 2, 01.01.2018, p. 70-83.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Sell-side financial analysts and the CFA® program
AU - Kang, Qiang
AU - Li, Xi
AU - Su, Tie
PY - 2018/1/1
Y1 - 2018/1/1
N2 - We examine the effects the Chartered Financial Analyst® (CFA) designation program has on recommendation performance and career outcomes of the analysts who complete the CFA Program and become CFA charterholders. For these analysts, both their recommendation performance and their chances of making Institutional Investor’s All-America Research Team increased during the 1993–2015 period. These effects are attributable to the CFA Program curriculum. The results remain largely stable over the pre- and post-2000 subperiods, and they survive an array of robustness checks.
AB - We examine the effects the Chartered Financial Analyst® (CFA) designation program has on recommendation performance and career outcomes of the analysts who complete the CFA Program and become CFA charterholders. For these analysts, both their recommendation performance and their chances of making Institutional Investor’s All-America Research Team increased during the 1993–2015 period. These effects are attributable to the CFA Program curriculum. The results remain largely stable over the pre- and post-2000 subperiods, and they survive an array of robustness checks.
UR - http://www.scopus.com/inward/record.url?scp=85047543050&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85047543050&partnerID=8YFLogxK
M3 - Article
VL - 74
SP - 70
EP - 83
JO - Financial Analysts Journal
JF - Financial Analysts Journal
SN - 0015-198X
IS - 2
ER -