信息关注深度、分析能力与分析质量——对我国证券分析师的调查分析

A Study of Financial Analysts: Information Comprehension, Analyzing Ability and Analyzing Quality

本项研究在对证券分析师进行大规模问卷调查的基础上,就学历、经验、工作环境以及信息收集途径等因素对证券分析师的分析会产生什么影响进行了研究。研究表明,证券分析师的信息关注深度、分析能力和分析质量受信息收集途径的影响很大,采用"公司调研"方式与信息关注深度及分析质量有较显著的正相关关系,而分析能力强弱以及分析质量高低则与"使用间接信息来源"有较强的正相关关系。在这些因素中,学历和经验的影响相对较弱。学历主要对分析能力有较大影响,而工作经验则对分析质量有较大影响。

This paper, based on a survey, studies the influence of the education background, work experience, work environment and information searching on the security analyst's activities. We find that the information searching has a big effect on the information comprehension, analyzing ability and analyzing quality of the security analysts, especially the way of corporate investigation which has a strong positive relation with the information comprehension and analyzing quality, and the way of using indirect information which has an apparent positive relation with the analyzing ability and quality. We also find that the influence of education background and work experience is relatively weaker among these factors. Hie education background affects mainly in the analyzing ability while the work experience affects mainly in the analyzing quality.