| A Comparison Of Buy-Side And Sell-Side Analysts |
2015 |
2251 |
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 |
1691 |
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 |
208 |
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 |
247 |
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 |
1604 |
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 |
224 |
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 |
1260 |
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 |
1545 |
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 |
2409 |
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 |
1137 |
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 |
1215 |
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 |
1459 |
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 |
255 |
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 |
275 |
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... |