Jeffrey Hobbs PhD

Professor: B.S., West Virginia University M.S., Virginia Tech Ph.D., Virginia Tech; Dr. Jeffrey Hobbs has experience teaching classes on investments, principles of finance, international finance, interest rates and debt markets, case studies, and computer-based financial analysis. His research interests are primarily concentrated in the area of corporate finance and include dividend policy, market efficiency, and agency theory.

There are 14 included publications by Jeffrey Hobbs PhD:

TitleDateViewsBrief Description
A Comparison Of Buy-Side And Sell-Side Analysts 2015 159 There is very little research on the topic of buy-side analyst performance, and that which does exist yields mixed results. We use a large sample from both the buy-side and the sell-side and report several new results. First, while the contemporaneou...
Dividend Signalling And Sustainability 2012 120 We examine the ‘disappearing dividends’ era documented by Fama and French (2001) with respect to the traditional theory of signalling, wherein the positive signal is one of high future cash flows and continued payments. We report several new findings...
Do Shareholder Rights Influence The Direct Costs Of Issuing Seasoned Equity? 2018 46 We test the hypothesis that underwriters set higher gross spreads and deeper offer price discounts in seasoned equity offers of firms exhibiting weak shareholder rights as compensation for increased reputational risk and legal liability. Alternativel...
The Global Kuznets Curve, 1969-2007 2012 61 Noting increasing economic equality in three developed nations and using a theoretical economic model, Kuznets hypothesized that economic development was associated with initial increasing economic inequality followed by decreasing economic inequalit...
The Investment Value Of The Frequency Of Analyst Recommendation Changes For The Ordinary Investor 2012 129 We find that analysts who frequently revise their stock recommendations outperform those who do not. This result holds for portfolios formed on the basis of favorable changes in recommendations as well as unfavorable changes. The frequency of revisio...
Kuznets Curves Stratified By Mean Per Capita Income, 1969-2007: Implications Regarding Global Economic Development And Income Inequality 2012 37 A Kuznets curve, based upon GDP and population estimates for the years 1969 through 2007 from 36 nations and regions comprising the entire global economy and population, has been previously demonstrated. This global Kuznets curve of income inequality...
New Evidence On The Effect Of Belief Heterogeneity On Stock Returns 2017 104 We develop a new measure to examine the effect of the heterogeneity of beliefs among investors on stock returns. Our initial results do not support the information asymmetry hypothesis or the sidelined investor hypothesis (and thus are consistent wit...
The Role Of Security And Trust In The Adoption Of Online Tax Filing 2011 359 Purpose – The purpose of this paper is to investigate the influence of six determinants on taxpayers’ intention to adopt e-file systems. The proposed model integrates technology adoption factors from the unified theory of acceptance and use of techno...
Short Selling Behavior And Mad Money 2012 116 We examine 1,234 buy recommendations from Jim Cramer’s Mad Money television show. Consistent with prior research, we report positive abnormal returns immediately after buy recommendations, followed by a reversal, indicative of an overpricing event. W...
Stock Returns And Disagreement Among Sell-Side Analysts 2018 145 Asymmetric information, investor optimism, and unbiased prices hypotheses are the main hypotheses proposed for explaining how investors’ difference of opinion may impact stock returns. We use a new measure for divergence in investor beliefs among sel...
A Survey Data Response To The Teaching Of Utility Curves And Risk Aversion 2011 139 In many finance and economics courses as well as in practice, the concept of risk aversion is reduced to the standard deviation of returns, whereby risk-averse investors prefer to minimize their portfolios’ standard deviations. In reality, the concep...
Terrorism, Militarism, And Stock Returns 2016 182 This study aims to examine the effect on stock returns of 28 terrorist and military events occurring between 1963 and 2012. The authors divide the sample and examine these attacks on the basis of industry, country targeted, location, terrorism versus...
U.S. National Healthcare Expenditures: Demonstration And Explanation Of Cubic Growth Dynamics 2011 62 U.S. national healthcare expenditures (NHE) increased from under 28 billion dollars in 1960 to over 1.35 trillion dollars in 2000. This enormous growth threatens the sustainability of the provision of healthcare. By definition, in any year, current N...
US National Healthcare Expenditures, 1960-2000: Public And Private Cubic Growth Dynamics 2012 39 US national healthcare expenditures (NHE) displayed cubic growth dynamics between 1960 and 2000. In any year, current NHE must equal population times consumer price index (CPI) times per capita CPI-adjusted constant dollar healthcare expenditures. Cu...