Vilken kommunikation smörjer börsmaskineriet
En kvalitativ studie av börsanalytikers syn på informationsinsamling och trovärdighet
Stock analysts have through the analyses they write a large impact on the expectations on the market and the direction of investors investments. This creates undesired fluctuations on the market that raises the level of uncertainty. The way that the analysts satisfy their need for information is connected to how their final analysis will be shaped. There is a large knowledge gap concerning the way that the analysts work and this gives unsatisfactory ways of communication. This thesis is set out to create a greater understanding of how optimal communication towards this target group should be brought out. There is a lack of theory looking at how stock analysts as a specific target group acts and is dependent of their surroundings. The theory used in the study describes rules of thumb for actions, the importance of work experience and the individual?s engagement in the subject. Furthermore, the media that delivers the information is studied, what effect it has on the message trustworthiness and the importance of the media?s degree of activity. Psychological aspects of the group are used to try to predict future actions. The thesis is a qualitative study, mainly based on interviews with analysts and people with extensive market knowledge. The study concludes that information from the company is regarded as the most trustworthy source of information and that performance is important in the evaluation of a source of information. Short distance to the primary source, a sender with extensive subject knowledge and good timing in the communication are other factors that increase the trust for the source. Furthermore, analysts claim that they only use trustworthy sources but the findings show that sources lacking trustworthiness are used frequently. The four factors that have the biggest impact on analysts? collection of information are the person?s work experience, the media?s historical performance, the engagement from the studied company and the work method of the group.