New & Noteworthy
Professor Publishes in Accounting and Finance Journal
October 7, 2013
Dr. Cheolwoo Lee, Associate Professor, published a paper titled “Analyst Firm Parent-Subsidiary Relationship and Conflict of Interest: Evidence from IPO Recommendations” in the September issue (Volume. 53, No. 3) of the journal Accounting and Finance.
“Analyst behavior is one of the topics in which I am interested because analysts provide information crucial to investments,” Lee explains. “When their role as an information provider is not functioning properly, trading behavior by investors who use such biased information will hinder market efficiency, which will ultimately have a disruptive effect to business entities. Therefore it is an interesting issue to investigate whether the parent-subsidiary relationship provides another level of incentive for analyst optimism.”