University of Illinois Urbana-Champaign

Global securities analysts' evaluations of family firms in emerging markets: The sociological perspective on the operations of financial markets

Jeong, Young-Chul

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https://hdl.handle.net/2142/24157

Description

Title
Global securities analysts' evaluations of family firms in emerging markets: The sociological perspective on the operations of financial markets
Author(s)
Jeong, Young-Chul
Issue Date
2011-05-25T14:51:40Z
Director of Research (if dissertation) or Advisor (if thesis)
Luo, Xiaowei
Doctoral Committee Chair(s)
Leblebici, Huseyin
Committee Member(s)
  • Luo, Xiaowei
  • Mahoney, Joseph T.
  • Bednar, Michael K.
Department of Study
Business Administration
Discipline
Business Administration
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
  • Institutional Logics
  • Family Firms
  • Securities Analysts
  • Emerging Markets
Abstract
This dissertation advances a sociological view of the stock exchange market. I examine how multiple institutional logics – profession-based logic at the global level and corporate governance-based logic at the national level – influence analysts’ coverage and ratings for family-dominated firms in emerging markets. Specifically, I aim to address the following three questions: (1) how do multiple forms of logics affect a brokerage firm’s decision to cover family-dominated firms? (2) how do multiple logics influence analysts’ earnings forecasts and recommendations of family-dominated firms? and (3) how do several theoretically-relevant contingencies strengthen or weaken the influence of multiple institutional logics on analysts’ coverage and ratings? I examine these questions by conducting a longitudinal study of global analysts’ coverage and ratings of all publicly listed firms in South Korea and Taiwan during the period of 1996 to 2005.
Graduation Semester
2011-05
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http://hdl.handle.net/2142/24157
Copyright and License Information
Copyright 2011 Young-Chul Jeong

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