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- Publisher Website: 10.1287/mnsc.2021.4059
- Scopus: eid_2-s2.0-85132942409
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Article: Language Commonality and Sell-Side Information Production
Title | Language Commonality and Sell-Side Information Production |
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Authors | |
Keywords | analysts dialect information production language commonality |
Issue Date | 2022 |
Citation | Management Science, 2022, v. 68, n. 6, p. 4435-4453 How to Cite? |
Abstract | I study the effects of language commonality (i.e., sharing a native language) on information production in financial markets. Using a hand-collected data set on the prevalent dialects for 2,091 cities (counties) in China, I identify the effects of language commonality separately from those of shared hometown and geographic proximity. In in-sample tests, language commonality between analysts and CEOs increases the return of trading on analysts’ recommendations by 5.5%. The results mainly stem from less intelligible dialects. Broadly speaking, language commonality can alleviate communication frictions when nonnative languages are used in professional settings. |
Persistent Identifier | http://hdl.handle.net/10722/345260 |
ISSN | 2023 Impact Factor: 4.6 2023 SCImago Journal Rankings: 5.438 |
DC Field | Value | Language |
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dc.contributor.author | Zhang, Ruishen | - |
dc.date.accessioned | 2024-08-15T09:26:13Z | - |
dc.date.available | 2024-08-15T09:26:13Z | - |
dc.date.issued | 2022 | - |
dc.identifier.citation | Management Science, 2022, v. 68, n. 6, p. 4435-4453 | - |
dc.identifier.issn | 0025-1909 | - |
dc.identifier.uri | http://hdl.handle.net/10722/345260 | - |
dc.description.abstract | I study the effects of language commonality (i.e., sharing a native language) on information production in financial markets. Using a hand-collected data set on the prevalent dialects for 2,091 cities (counties) in China, I identify the effects of language commonality separately from those of shared hometown and geographic proximity. In in-sample tests, language commonality between analysts and CEOs increases the return of trading on analysts’ recommendations by 5.5%. The results mainly stem from less intelligible dialects. Broadly speaking, language commonality can alleviate communication frictions when nonnative languages are used in professional settings. | - |
dc.language | eng | - |
dc.relation.ispartof | Management Science | - |
dc.subject | analysts | - |
dc.subject | dialect | - |
dc.subject | information production | - |
dc.subject | language commonality | - |
dc.title | Language Commonality and Sell-Side Information Production | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1287/mnsc.2021.4059 | - |
dc.identifier.scopus | eid_2-s2.0-85132942409 | - |
dc.identifier.volume | 68 | - |
dc.identifier.issue | 6 | - |
dc.identifier.spage | 4435 | - |
dc.identifier.epage | 4453 | - |
dc.identifier.eissn | 1526-5501 | - |