TY - JOUR
T1 - Look at me
T2 - Overt status-seeking behavior and competitive emergence among securities analysts
AU - Bowers, Anne H.
AU - Greve, Henrich R.
AU - Mitsuhashi, Hitoshi
N1 - Funding Information:
We are grateful for comments from Marc-David Seidel, and for much developmental help from Joel A. C. Baum. The research of the first author was supported by a Social Sciences and Humanities Research Council of Canada Insight Development Grant. The research of the third author was supported by the Japan Society for the Promotion of Science KAKENHI Grant Number 25285121.
Publisher Copyright:
© 2017 by Emerald Publishing Limited.
PY - 2017
Y1 - 2017
N2 - Using data from securities analysts, who are awarded status by the thirdparty organization Institutional Investor magazine, we examine the emergence of competition and articulate a model of competitive response among actors aware of the importance of status and some of the dimensions on which it may be gained. We predict analysts' initiating or ceasing coverage of stocks in response to other analysts initiating coverage on stocks they cover. We find that competition can emerge because of status seeking rather than as a response to own capabilities or market needs, with compelling, and potentially negative, market implications for overt status seeking.
AB - Using data from securities analysts, who are awarded status by the thirdparty organization Institutional Investor magazine, we examine the emergence of competition and articulate a model of competitive response among actors aware of the importance of status and some of the dimensions on which it may be gained. We predict analysts' initiating or ceasing coverage of stocks in response to other analysts initiating coverage on stocks they cover. We find that competition can emerge because of status seeking rather than as a response to own capabilities or market needs, with compelling, and potentially negative, market implications for overt status seeking.
KW - Attention
KW - Competitive emergence
KW - Competitive responses
KW - Securities analysts
KW - Status-seeking behavior
UR - http://www.scopus.com/inward/record.url?scp=85016263967&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85016263967&partnerID=8YFLogxK
U2 - 10.1108/S0733-558X20170000050011
DO - 10.1108/S0733-558X20170000050011
M3 - Article
AN - SCOPUS:85016263967
SN - 0733-558X
VL - 50
SP - 351
EP - 382
JO - Research in the Sociology of Organizations
JF - Research in the Sociology of Organizations
ER -