The Determinants and Impacts of Analyst Activity in Australian Equity Markets

深度和流动性市场是一个运作良好的资本市场的基本要素，可以帮助资本形成和公司的成长。反过来，丰富的信息环境也是确保流动性和将资金成本降至最低所必需的。更好地了解是什么促进了丰富的信息环境，特别是通过金融分析师的活动，这将有助于在澳大利亚证券交易所和个别公司层面制定政策，甚至在政府层面，考虑到联邦和州政府鼓励澳大利亚公司发展的倡议。

Deep and liquid markets are essential ingredients to a well functioning capital market, and can assist in capital formation and the growth of firms. A rich information environment is in turn necessary to ensure liquidity and the minimisation of cost of capital. A greater understanding of what promotes a rich information environment, specifically through the activity of financial analysts, will assist in formulation of policies at both the Australian Stock Exchange and individual company level, and indeed at the government level given Federal and State Government initiatives to encourage the growth of corporate Australia.