Wall Street Research Past, Present, and Future [Hardcover]

Wall Street Research: Past, Present, and Futureprovides a timely account of the dramatic evolution of Wall Street research, examining its rise, fall, and reemergence. Despite regulatory, technological, and global forces that have transformed equity research in the last ten years, the industry has proven to be remarkably resilient and consistent. Boris Groysberg and Paul M. Healy get to the heart of Wall Street researchthe analysts engaged in the processand demonstrate how the analysts' roles have evolved, what drives their performance today, and how they stack up against their buy-side counterparts. The book unpacks key trends and describes how different firms have coped with shifting pressures. It concludes with an assessment of where equity research is headed in emerging markets, drawing conclusions about this often overlooked corner of Wall Street and the industry's future challenges. High quality investment research is critical for the efficient operation of any capital market. This is one way in which investment banks can unequivocally deliver constructive input as they redefine their role in society after the global financial crisis. However, as the authors deftly highlight, the business model for funding research has long been a challenging and rapidly evolving puzzle, making this book a compelling read for anyone interested in the evolution of financial markets. Boris Groysberg is Professor of Business Administration at Harvard Business School. He is author of the award-winning bookChasing Stars: The Myth of Talent and the Portability of Performance.Paul Healy is Professor of Business Administration at Harvard Business School. He is co-author of one of the leading financial analysis textbooks,Business Analysis and Valuation, 5th Edition. Full of institutional details that deepen our understanding of sell-side research, this book provides penetrating insights into the role that financial analysts plays in stock markets. Groysberg and Hl£Á