What is Equity Research?
股票研究是一家买方或卖方公司内部的部门，负责该公司及其客户使用的研究。股票研究人员的目的是向公司，实体或部门提供洞察力和详细的分析，然后，投资者将使用此信息来决定如何分配其资金以及私募股权公司和投资银行向价值公司的合并，LBOs,IPO等等
然后，买方公司将支付equity research访问其信息的团队，这就是为什么Equity Research是一个投资银行的创收集团的原因。股票研究可以被认为是投资者与公司之间的联络。通常，股票研究部门分为不同的覆盖范围，这些覆盖范围将是小型团队，专注于特定部门（即采矿，能源和资源，医疗保健，消费者等）。bob电子竞技大赛每个团队通常将覆盖5-20家公司。
股票研究的重要性
In the financial markets, information is by far the most valuable asset. Investors rely on information to know what to put their money into, traders need information to know whether they should enter or exit a position, and corporate financiers (including bankers, private equity firms, etc.) need information to value companies and participate in transactions. This information has to come from somewhere and as a result, there are entire divisions within financial institutions dedicated to researching the key issues for their firm and this division is called Equity Research.
您在股票研究方面做什么？
Equity Research Analystsoften arrive to the office as early as 7:00am in order to digest the new information related to the companies or industries that they follow. The work within equity research is split into research / reporting and projections. The research work is fairly self explanatory; the associate or analyst will spend time investigating both the company in question, competitors and the industry in general and take note of all the relevant issues.
This information can either come from people in the industry, online information resources (i.e. Google) or other agencies. Every quarter the research team will compile what it has done into a Research Report which is issued to its clients. The projection work is similar to that of valuation in banking, the researcher will estimate growth rates and valuations for companies several years into the future.
投资银行bob竞技体育游戏部门通常会使用股票研究报告作为其模型的基础，这是银行内部办公室如何相互联系的另一个例子。与大多数其他金融机构不同，股票研究中的初级水平称为“助理”水平，而高级人员则被称为“分析师”。加入股票研究团队的最常见方法是过分教育（与银行业相同），或者是银行中行业 /另一个部门的横向雇用。
Sell Side Equity Research Analyst
卖方股票研究分析师将通过与供应商，客户，竞争对手等各种来源会面来建立投射公司财务的模型，并从事一些定性分析。卖方研究分析师通常会遵循相当简短的清单通常在同一领域（例如消费者零售）的公司。他们在研究报告中编译了他们的发现和分析，然后将公司和公司的客户都使用。
Buy Side Equity Research Analyst
买方股票研究分析师也做类似的工作，但实际上是希望确定市场上最出色的表现，并且往往遵循更多的公司，并且比其卖方同行更详细。由于覆盖范围更广泛，分析师最终可以在任何给定时间关注多个行业和30多家公司。这些报告往往是专有的，因为该研究通常是在内部进行的，并且通常用作公共/购买的卖方分析师研究的补充。
退出机会
为股权研究人员extr退出机会emely varied and they can place well into hedge funds, industry sector private equity firms and the investment banking division. Due to the fact that an equity researcher has to analyze companies from the point of view of an investor, they already have the mindset and skill set to work well in hedge funds and other buy-side firms. As mentioned, each researcher will be familiar with a certain sector of industry, so their knowledge and insight can prove useful when transitioning into another role focusing on that particular sector.
Return to the Finance Dictionary
To learn more about this concept and become a master at valuation modeling, you should check out our Valuation Modeling Course.Learn more here.
Module 1: Introduction
模块2：估值：大局
Module 3: Enterprise Value & Equity Value Practice
Module 4: Trading Comparables Introduction
Module 5: Trading Comps: The Setup
模块6：交易补偿：扩散耐克（NKE）
Module 7: Trading Comps: Spreading Adidas (ADS.DE)
模块8：交易补偿：传播Lululemon（Lulu）
模块9：交易补偿：散布在装甲（UA）
模块10：交易补偿：基准测试和输出
Module 11: Precedent Transactions: Introduction
模块12：先例：设置
模块13：传播蒂法尼和LVMH
Module 14: Spreading FitBit & Google
Module 15: Spreading Reebok & Adidas
模块16：传播吉米·乔和迈克尔·科尔斯
Module 17: Spreading Dickies & VF
模块18：估值总结
Module 19: Bonus: Non-GAAP Practice
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