arbiter
JournalsAccount

Changes to the Work Environment and Analyst Herding Behavior

Alex Nguyen et al.

Journal of Accounting Auditing and Finance2026https://doi.org/10.1177/0148558x261434637article
AJG 3ABDC A
Weight
0.50

Abstract

We find that analysts exhibit strong herding behavior in their earnings forecasts following an employment change—possibly as a response to the unfamiliarity of their new workplace. Overall, this has no significant effect on forecast accuracy but an adverse effect on the market impact of their forecasts. This research adds to the literature by showing that analysts’ herding behavior can arise simply from having to adjust to a new work environment. Yet, it appears to be a strategic adaptation as the moving analysts only choose to herd when the consensus serves as a reliable benchmark to maintain performance standards.

Open via your library →

Cite this paper

https://doi.org/https://doi.org/10.1177/0148558x261434637

Or copy a formatted citation

@article{alex2026,
  title        = {{Changes to the Work Environment and Analyst Herding Behavior}},
  author       = {Alex Nguyen et al.},
  journal      = {Journal of Accounting Auditing and Finance},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1177/0148558x261434637},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

Changes to the Work Environment and Analyst Herding Behavior

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.