科学研究
报告题目：Still a Horse Race? The Evolving Role of Robo-Analysts in Investment Recommendations
报告人：于茜
报告时间：2025年1月11日（周六）8:30-10:00
报告地点：#腾讯会议：549-293-369
主办单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心
【报告摘要】
This study investigates whether and when Robo-Analyst recommendations serve as substitutes or complements to human analyst advice in an evolving landscape. Using a dataset of Robo-Analyst reports from 2014 to 2023, the findings show that Robo-Analysts provide equally profitable recommendation revisions with lower time costs as human analysts. However, their performance is more comparable to bundled human revisions (produced in a batch) than to standalone revisions (produced individually), especially in stable and predictable environments. By analyzing the agreement and disagreement between the two groups, the study reveals that portfolios formed from agreement yield significant abnormal returns, while in cases of disagreement, Robo-Analyst revisions outperform human analysts in generating short-term value. Furthermore, when Robo-Analyst following decreases, human analysts are more likely reduce coverage post-lockdown than pre-lockdown. Overall, these results suggest that while Robo-Analysts provide a cost-effective alternative in certain scenarios, they are increasingly taking on a complementary role alongside human analysts.
【报告人简介】
于茜，罗格斯大学商学院会计与信息系统系博士。于博士专注于金融科技在会计领域的应用，特别是Robo-Analyst（机器人分析师）股票推荐方面。基于她开发的全面Robo-Analyst报告数据集，她研究了机器人分析师与人类分析师的相对表现。于博士的研究曾在FARS Midyear和Hawaii Accounting Research Conference等国际高水平会议上展示。
【特别提醒】
未经论文作者和主办方允许，严禁将讲座内容录制并公开传播，违者将有可能被追究法律责任。
