Using a thematic text analysis of the initial letters to shareholders following a CEOsuccession event, we analyze whether CEOcharismatic visions portrayed in this organizational discourse influence securities analysts' recommendations and forecasts. The results suggest that such projections of CEOcharismatic visions are associated with the favorability of individual analyst recommendations and the uniformity of recommendations across analysts, but they also appear to be positively related to errors in individual analysts' forecasting of future firm performance.
All Science Journal Classification (ASJC) codes
- Strategy and Management
- Organizational Behavior and Human Resource Management
- Management of Technology and Innovation