Title :
Securities Analyst´s Forecasting Ability and ITS Influential Factors: Based on Decision-Making Theory
Author_Institution :
Res. Center on Fictitious Econ. & Data Sci., Beijing, China
Abstract :
Based on decision-making theory, applied cognitive psychology and other researches, this paper focuses on Chinese securities analyst´ decision-making behavior and its influential factors by applying the methods of questionnaire, factor analysis and logistic regression model. Empirical result shows that clear differences exist among the impact on securities analyst´ decision-making performance in terms of their personal characteristics, information channels and stock recommendation motive, especially, there is an inverted U type relationship between work stress and decision-making performance. Besides, internal resources, better understanding of the listed companies and a good relationship with the management are among the factors which enhance securities analyst´ forecasting ability.
Keywords :
cognition; decision making; forecasting theory; logistics; psychology; regression analysis; securities trading; Chinese securities analyst decision-making behavior; cognitive psychology; decision-making performance; decision-making theory; factor analysis; information channels; inverted U type relationship; listed companies; logistic regression model; personal characteristics; securities analyst forecasting ability; stock recommendation motive; work stress; Companies; Decision making; Forecasting; Logistics; Security; Stress; Decision-making Theory; Forecasting Ability; Information Channel; Recommendation Motive; Securities Analyst;
Conference_Titel :
Business Intelligence and Financial Engineering (BIFE), 2013 Sixth International Conference on
Conference_Location :
Hangzhou
Print_ISBN :
978-1-4799-4778-2
DOI :
10.1109/BIFE.2013.79