Assistant Prof. Lauren Cohen and Associate Prof. Christopher Malloy, along with the University of Chicago's Andrea Frazzini, have received a 2010 Distinguished Paper Award from the editors of the Journal of Finance for "Sell Side School Ties." Making use of novel data on the college and university backgrounds of sell-side equity analysts and senior officers of firms, the paper tests the hypothesis that analysts' school ties to senior corporate officers impart comparative information advantages in the production of research. The authors conclude that these analysts outperform on their stock recommendations when they have an educational link to a company.

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