Podcast
Questions and Answers
What is the primary purpose of the New Fortune rankings?
What is the primary purpose of the New Fortune rankings?
- To evaluate the institutional investors' ratings
- To assess the capital management institutions' investments
- To measure the performance of portfolio managers
- To measure the status of analysts (correct)
Who are asked to rate analysts in the New Fortune rankings?
Who are asked to rate analysts in the New Fortune rankings?
- Portfolio managers, capital management institutions, and other public departments (correct)
- Research institutions and investors
- Staying analysts
- Departing analysts
What is a key factor in the observed peer effect of high-status coworkers' performance?
What is a key factor in the observed peer effect of high-status coworkers' performance?
- Industry overlap between staying and departing analysts
- The quality of relationships among employees
- The level of competition for resources and rewards (correct)
- The length of time since the knowledge spillover
What is the duration of the observation window for each of the before- and after-departure periods in the study?
What is the duration of the observation window for each of the before- and after-departure periods in the study?
According to the study, what is the relationship between departing and staying analysts that is being examined?
According to the study, what is the relationship between departing and staying analysts that is being examined?
Who benefits most from the departure of high-status employees?
Who benefits most from the departure of high-status employees?
What is the likely outcome when high-status analysts depart from a low-status firm?
What is the likely outcome when high-status analysts depart from a low-status firm?
How often are the New Fortune rankings released?
How often are the New Fortune rankings released?
What is the relationship between employee status and performance in the context of the study?
What is the relationship between employee status and performance in the context of the study?
What is the basis of the New Fortune rankings?
What is the basis of the New Fortune rankings?
What is the effect of knowledge spillover over time in the context of the study?
What is the effect of knowledge spillover over time in the context of the study?
In which contexts are the study's findings more likely to be observed?
In which contexts are the study's findings more likely to be observed?
What is a key factor that influences the advantages attributed to high-status employees?
What is a key factor that influences the advantages attributed to high-status employees?
What do managers need to do in the wake of a high-status employee departure?
What do managers need to do in the wake of a high-status employee departure?
What is a novel perspective on the impact of employee turnover demonstrated in the study?
What is a novel perspective on the impact of employee turnover demonstrated in the study?
What is the consequence of high-status employee departures on business operations?
What is the consequence of high-status employee departures on business operations?
What should managers avoid doing according to the study's findings?
What should managers avoid doing according to the study's findings?
What is the significance of considering employee status when exploring the peer influence of turnover?
What is the significance of considering employee status when exploring the peer influence of turnover?
What is the challenge in evaluating individual performance in a team with highly interconnected tasks?
What is the challenge in evaluating individual performance in a team with highly interconnected tasks?
According to Magee and Galinsky (2008), what advantage do high-status actors have in organizations?
According to Magee and Galinsky (2008), what advantage do high-status actors have in organizations?
How is recommendation consensus for a stock calculated?
How is recommendation consensus for a stock calculated?
According to Paik et al. (2023), what is the increase in performance associated with becoming a high-status analyst?
According to Paik et al. (2023), what is the increase in performance associated with becoming a high-status analyst?
What is the percentage change in the standard deviation of financial analysts' performance associated with a one-point decrease from the inflection point of work-life balance?
What is the percentage change in the standard deviation of financial analysts' performance associated with a one-point decrease from the inflection point of work-life balance?
What is the significance of the 7.9% change in performance associated with losing high-status colleagues?
What is the significance of the 7.9% change in performance associated with losing high-status colleagues?
What is the license that governs OA articles on Wiley Online Library?
What is the license that governs OA articles on Wiley Online Library?
What is the topic of the 2015 article by Call, Nyberg, and Thatcher?
What is the topic of the 2015 article by Call, Nyberg, and Thatcher?
Which of the following authors is associated with the 1997 article on mutual fund performance?
Which of the following authors is associated with the 1997 article on mutual fund performance?
What is the topic of the 2010 article by Castellucci and Ertug?
What is the topic of the 2010 article by Castellucci and Ertug?
What is the topic of the 2018 article by Chen and Garg?
What is the topic of the 2018 article by Chen and Garg?
Which of the following authors is associated with the 2003 and 2005 articles on financial analyst characteristics and herding behavior?
Which of the following authors is associated with the 2003 and 2005 articles on financial analyst characteristics and herding behavior?
Study Notes
The New Fortune and Analyst Rankings
- The New Fortune releases an annual ranking of best analysts, similar to the Institutional Investor rankings in the United States.
- The rankings are based on a survey of portfolio managers, capital management institutions, and other public departments.
High-Status Employee Departure and Performance
- The departure of high-status analysts leads to a performance increase of their staying colleagues.
- The effect is more pronounced when they work in a low-status firm and when staying analysts have more industry overlap with departing analysts.
Contingency Factors of High-Status Departure
- The effect of high-status departure is contingent on the relationship between departing and staying analysts.
- The effect is more likely to be observed in contexts where employees are in more contested relationships competing for resources and opportunities.
Importance of Considering Employee Status
- It is crucial to consider employee status when exploring the peer influence of turnover.
- Managers should be aware of the advantages attributed to high-status employees and the performance shifts among their colleagues.
Managing Employee Departure
- Managers should strategically respond to employee departure instances, particularly high-status departures, to maintain good performance levels.
- Cultivating employees with similar work can help maintain performance levels.
Code and Recommendation Consensus
- Recommendations of strong sell, sell, hold, buy, and strong buy are coded as -2, -1, 0, 1, and 2 respectively.
- Recommendation consensus for a stock is calculated as the average of all recommendations for the stock in a year.
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Description
This quiz assesses your understanding of the New Fortune rankings, which measure the status of analysts. It covers the annual ranking of Best Analysts, the relationship between departing and staying analysts, and the impact of high-status departure on incumbent analysts. Test your knowledge of the New Fortune's role in evaluating analyst performance.
