The Forecast Quality And Characteristics Of Female Equity Analysts

:In knowledge economy age, with the women playing more and more important role in every fields of economic and politics, the dominant role of male have met the challenge of female gradually, more and more attention have been attach to the change of female’s position and influence. But, there are many disadvantages in some profession compare to the male, which due to the limit of internal special nature. The equity analyst is the very profession. based on the hypothesis of self-selection, this paper try to find the internal differences of equity analysts and the influence factor of their job performance, and discuss that whether the female equity analysts’job performance are matched to their internal peculiarity in the capital market of our country. We try to find the empirical proof for the self-selection action of female analysts and extend the related research of capital market and financial markets.Firstly, the paper analyzed the theoretical basis and reviewed the related research from domestic and foreign scholars in detail. In view of the self-selection hypothesis theoretical analysis, this paper tries to research the differences of earnings forecasts characteristic and style between female and male analysts and whether female analysts show higher forecast quality in China’s financial service market. Based on the analysts forecast data from2003to2011, this paper finds that female analysts’earnings forecast is more accurate than that of male analysts and female analysts are more likely to be chosen as all-star analysts in terms of forecast quality. Considering the forecast characteristics, this paper finds that female analysts tend to cover relatively larger stocks and stocks with high institutional ownership. The results also show that female analysts are less likely to update their earnings forecasts and they tend to issue bolder forecasts.