000			01462naa a2200205uu 4500
001			7195
003			OSt
005			20190211154226.0
008			020924s2005 xx ||||gr |0|| 0 eng d
100	1		_aRAO, Hayagreeva _98783
245	1	0	_aFoll`s gold : _bsocial proof in the initiation and abandonment of coverage by Wall Street analysts
260			_c2001
520	3		_aThis paper examines the dynamics of social influence in the choices of securities analysts to initiate and abandon coverage of firms listed on the NASDAQ national market. We show that social proof - using the actions of others to infer the value of a course of action - creates information cascades in which decision makers initiate coverage of a firm when peers have recently begun coverage. Analysts that initiate coverage of a firm in the wake of a cascade are particularly prone to overestimating the firm`s future profitability, however, and they are subsequently more likely than other analysts to abandon coverage of the firm. We thus find evidence for a cycle of imitation-driven choice followed by disappointment and abandonment. Our account suggests that institutionalization rooted in imitation is likely to be fragile
700	1		_aGREVE,Henrich R _94347
700	1		_aDAVIS, Gerald F _92748
773	0	8	_tAdministrative Science Quarterly _g46, 3, p. 502-526 _d, 2001 _w
942			_cS
998			_a20020924 _bCassio _cCassio
998			_a20081106 _b1011^b _cZailton
999			_aConvertido do Formato PHL _bPHL2MARC21 1.1 _c7351 _d7351
041			_aeng