Editing Chartered Financial Analyst (section)

== Efficacy of the CFA program ==
Given the time and effort that candidates must undergo to complete the CFA program, it would be expected that CFA charter-holders have [[Human capital|higher performance]] than those who do not complete the program. There exist some academic research, which suggest evidence that differential analyst performance is economically significant,<ref>{{Cite journal|last1=De Franco|first1=Gus|last2=Zhou|first2=Yibin|date=2009|title=The Performance of Analysts with a CFA ® Designation: The Role of Human-Capital and Signaling Theories|journal=The Accounting Review|volume=84|issue=2|pages=383–404|doi=10.2308/accr.2009.84.2.383|issn=0001-4826|jstor=27802657}}</ref> supporting the predominance of [[Signalling (economics)|signaling]]; furthermore research in the ''[[Financial Analysts Journal]]'' (a journal published by [[CFA Institute]]) suggests a positive human capital impact from the CFA program.<ref>{{Cite journal|last1=Kang|first1=Qiang|last2=Li|first2=Xi|last3=Su|first3=Tie|date=2018-04-01|title=Sell-Side Financial Analysts and the CFA® Program|journal=Financial Analysts Journal|volume=74|issue=2|pages=70–83|doi=10.2469/faj.v74.n2.2|s2cid=218507866 |issn=0015-198X}}</ref>