An experimental study of the information choices of security analysts

This paper examines the information search behaviour of security analysts , the first stage of their decision process. Their information cho ice , the set of attributes they selected in valuing the s tocks of each and every sampled company , is evaluated agains t two theoretical models of stock valuation the discounted cash flow model (DCF) and the capital a sset pricing model (CAPM) . The results indicate that most analysts ' information …