Table A2 Means (M), standard deviations...

Table A2

Means (M), standard deviations (SD) and Pearson correlations between varimax rotated factor scores and ratings of trust in financial analysts (n = 141)

Statements	M	SD	FS_TS	FS_TI	S9	S10	S2	S1	S6	S8	S7	S5	S4
S9 What trust do you have in analysts' buy recommendations?	2.81	0.80	0.81***	0.29**
S10 What trust do you have in analysts' sell recommendations?	3.06	0.86	0.80***	0.08	0.69***
S2 Stocks with positive recommendations from several analysts will probably show a good return	2.64	0.98	0.73***	0.01	0.48***	0.34***
S1 Analysts' return predictions for large cap companies are usually accurate	2.91	0.82	0.65***	−0.06	0.33***	0.36***	0.38***
S6 Analysts are on purpose overly optimistic in their analysis to boost stock returns	2.78	1.08	−0.13	−0.79***	−0.32***	−0.20*	−0.03	−0.18*
S8 Analysts predicts purposely low short-term profits for companies to give the companies' management better opportunities to overperform expectations	2.39	1.11	−0.02	−0.73***	−0.20*	−0.18*	−0.04	−0.04	0.51***
S7 Analysts' recommendations concerning a company are influenced if they also have the company as client	3.57	1.16	−0.01	−0.70***	−0.21*	−0.02	−0.03	−0.14	0.43***	0.41***
S5 Analysts tend to refrain from giving recommendations that strongly deviates from consensus	3.39	1.03	−0.27**	−0.64***	−0.40***	−0.17*	−0.26	−0.10	0.41***	0.30***	0.35***
S4 Analysts rather give buy than sell recommendations	3.57	1.17	−0.01	−0.46***	−0.16	0.02	−0.11	0.00	0.24**	0.15	0.16	0.36***
S3 Analysts are not able to separate temporary from stable changes in companies’ profits	2.67	0.91	−0.10	−0.38***	−0.11	−0.07	−0.07	−0.16	0.30***	0.22**	0.12	0.14	0.03

Statements	M	SD	FS_TS	FS_TI	S9	S10	S2	S1	S6	S8	S7	S5	S4
S9 What trust do you have in analysts' buy recommendations?	2.81	0.80	0.81***	0.29**
S10 What trust do you have in analysts' sell recommendations?	3.06	0.86	0.80***	0.08	0.69***
S2 Stocks with positive recommendations from several analysts will probably show a good return	2.64	0.98	0.73***	0.01	0.48***	0.34***
S1 Analysts' return predictions for large cap companies are usually accurate	2.91	0.82	0.65***	−0.06	0.33***	0.36***	0.38***
S6 Analysts are on purpose overly optimistic in their analysis to boost stock returns	2.78	1.08	−0.13	−0.79***	−0.32***	−0.20*	−0.03	−0.18*
S8 Analysts predicts purposely low short-term profits for companies to give the companies' management better opportunities to overperform expectations	2.39	1.11	−0.02	−0.73***	−0.20*	−0.18*	−0.04	−0.04	0.51***
S7 Analysts' recommendations concerning a company are influenced if they also have the company as client	3.57	1.16	−0.01	−0.70***	−0.21*	−0.02	−0.03	−0.14	0.43***	0.41***
S5 Analysts tend to refrain from giving recommendations that strongly deviates from consensus	3.39	1.03	−0.27**	−0.64***	−0.40***	−0.17*	−0.26	−0.10	0.41***	0.30***	0.35***
S4 Analysts rather give buy than sell recommendations	3.57	1.17	−0.01	−0.46***	−0.16	0.02	−0.11	0.00	0.24**	0.15	0.16	0.36***
S3 Analysts are not able to separate temporary from stable changes in companies’ profits	2.67	0.91	−0.10	−0.38***	−0.11	−0.07	−0.07	−0.16	0.30***	0.22**	0.12	0.14	0.03

Note(s): FS refers to standardized factor scores, subscript TS trust in skill and subscript TI trust in integrity. The numbering of statements corresponds to presentation order in the online questionnaire

*p < 0.05; **p < 0.01; ***p < 0.001

Source(s): Authors' own creation/work)

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