Walls between securities analysis and investment banking appear to crumble

Media Outlet: 


Four researchers, including Lawrence Brown of Temple's Fox School of Business, surveyed 365 sell-side analysts to see how the business of stock analysis is conducted. Startlingly, they found that 44 percent of the analysts indicated that their success at generating underwriting business or trading commissions is "very important" to their compensation. In other words, the so-called Chinese walls between analysis and investment banking appear to have come crashing down—and almost no one has noticed.