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Regulation Fair Disclosure and the Determinants of Analyst Coverage
Journal of Finance and Accounting
Volume 3, Issue 6, November 2015, Pages: 205-210
Received: Oct. 18, 2015; Accepted: Oct. 26, 2015; Published: Nov. 13, 2015
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Yutao Li, Faculty of Management, University of Lethbridge, Lethbridge, Canada
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Using a sample of 49,956 firm-years from the United States of American, this study documents that analysts place significant less weight on firm size, return volatility, and more weight on trading volume in deciding which firms to issue earnings forecasts after the passage of Regulation Fair Disclosure (Reg FD) in 2000. The evidence of this study suggests that Reg FD leveled playing field among analysts, lowering the costs of covering smaller and risky firms for analysts.
Reg FD, Analyst Coverage, Determinants of Analyst Coverage, Regulation, Competitive Advantage
To cite this article
Yutao Li, Regulation Fair Disclosure and the Determinants of Analyst Coverage, Journal of Finance and Accounting. Vol. 3, No. 6, 2015, pp. 205-210. doi: 10.11648/j.jfa.20150306.15
Copyright © 2015 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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