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Author: Julia Grant
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper examines the relationship between financial analysis levels and identifiable firm characteristics. The full text of 187 sell-side analyst reports is coded using content analysis. Publicly available information is searched to identify potential sources of the coded information. Source results are used to measure analyst effort, where information cited by the analyst but having no identifiable source is assumed to require the greatest effort, and information taken from financial statements requires the lowest effort. Thus, effort is an increasing function of the level of non-financial-report information cited. Empirical analysis applies nonlinear estimation techniques, using the Poisson distribution for count data, to the relationship between nonreport information cited and firm characteristics. Results identify positive relationships between the measure of analyst effort and firm complexity and trading volume. Negative relationships are identified between effort level and inside ownership, firm disclosure quality, earnings variability, and level of coverage by other analysts. In addition, a positive relationship is identified between size and effort.
Author: Julia Grant
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper examines the relationship between financial analysis levels and identifiable firm characteristics. The full text of 187 sell-side analyst reports is coded using content analysis. Publicly available information is searched to identify potential sources of the coded information. Source results are used to measure analyst effort, where information cited by the analyst but having no identifiable source is assumed to require the greatest effort, and information taken from financial statements requires the lowest effort. Thus, effort is an increasing function of the level of non-financial-report information cited. Empirical analysis applies nonlinear estimation techniques, using the Poisson distribution for count data, to the relationship between nonreport information cited and firm characteristics. Results identify positive relationships between the measure of analyst effort and firm complexity and trading volume. Negative relationships are identified between effort level and inside ownership, firm disclosure quality, earnings variability, and level of coverage by other analysts. In addition, a positive relationship is identified between size and effort.
Author: Ravi Bhushan
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
Author: Tanja Klettke
Publisher: Springer Science & Business
ISBN: 3658056347
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Financial analysts provide information in their research reports and thereby help forming expectations of a firm’s future business performance. Thus, it is essential to recognize analysts who provide the most precise forecasts and the accounting literature identifies characteristics that help finding the most accurate analysts. Tanja Klettke detects new relationships and identifies two new determinants of earnings forecast accuracy. These new determinants are an analyst’s “general forecast effort” and the “number of supplementary forecasts”. Within two comprehensive empirical investigations she proves these measures’ power to explain accuracy differences. Tanja Klettke’s research helps investors and researchers to identify more accurate earnings forecasts.
Author: John G. Cragg
Publisher: University of Chicago Press
ISBN: 0226116727
Category : Business & Economics
Languages : en
Pages : 185
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Book Description
John G. Cragg and Burton G. Malkiel collected detailed forecasts of professional investors concerning the growth of 175 companies and use this information to examine the impact of such forecasts on the market evaluations of the companies and to test and extend traditional models of how stock market values are determined.
Author: Stefanie Rinderle-Ma
Publisher: Springer Science & Business Media
ISBN: 3642121853
Category : Business & Economics
Languages : en
Pages : 707
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Book Description
Business process management (BPM) constitutes one of the most exciting - search areas in computer science and the BPM Conference together with its workshops provides a distinct platform for presenting the latest research and showing future directions in this area. These proceedings contain the ?nal v- sions of papers accepted for the workshops held in conjunction with the 7th International Conference on Business Process Management (BPM 2009). The BPM 2009 conference and workshops took place in Ulm, Germany. We received many interesting workshop proposals, eight of which were selected. Ultimately the workshops ran on September 7, 2009 featuring highly interesting keynotes, inspiring scienti?c presentations, and fruitful discussions. The history of ?ve years of BPM workshops in a row proves the continued success of the workshop program. Theworkshopsheldin2009includedonenewworkshoponempiricalresearch in business process management and seven well-established workshops. First International Workshop on Empirical Research in Business Process Management(ER-BPM 2009). The ER-BPM 2009 workshop addressed the demand for empirical research methods such as experimental or case studies to BPM and invited fellow colleagues to investigate both the potential and the limitations of BPM methods and technologies in practice. The ER-BPM workshop aimed at closing the gap in knowledge on process management and at discussing empirical research in the space of BPM and associated phenomena. 12th International Workshop on Reference Modeling (RefMod 2009). Although conceptual models have proven to be a useful means to support information systems engineering in the past few years, creating and especiallymaintainingconceptualmodelscanbequitechallengingandcostly.
Author: Josip Stjepandić
Publisher: Springer Science & Business Media
ISBN: 1447144260
Category : Technology & Engineering
Languages : en
Pages : 1209
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Book Description
The CE Conference series is organized annually by the International Society for Productivity Enhancement (ISPE) and constitutes an important forum for international scientific exchange on concurrent and collaborative enterprise engineering. These international conferences attract a significant number of researchers, industrialists and students, as well as government representatives, who are interested in the recent advances in concurrent engineering research and applications. Concurrent Engineering Approaches for Sustainable Product Development in a Multi-Disciplinary Environment: Proceedings of the 19th ISPE International Conference on Concurrent Engineering contains papers accepted, peer reviewed and presented at the annual conference held at the University of Applied Sciences in Trier, Germany, from 3rd-7th of September 2012. This covers a wide range of cutting-edge topics including: Systems Engineering and Innovation Design for Sustainability Knowledge Engineering and Management Managing product variety Product Life-Cycle Management and Service Engineering Value Engineering
Author:
Publisher:
ISBN:
Category : Statistics
Languages : en
Pages : 608
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Book Description
Author: Bruce Vanstone
Publisher: Harriman House Limited
ISBN: 0857191357
Category : Business & Economics
Languages : en
Pages : 181
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Book Description
In Designing Stock Market Trading Systems Bruce Vanstone and Tobias Hahn guide you through their tried and tested methodology for building rule-based stock market trading systems using both fundamental and technical data. This book shows the steps required to design and test a trading system until a trading edge is found, how to use artificial neural networks and soft computing to discover an edge and exploit it fully. Learn how to build trading systems with greater insight and dependability than ever before Most trading systems today fail to incorporate data from existing research into their operation. This is where Vanstone and Hahn's methodology is unique. Designed to integrate the best of past research on the workings of financial markets into the building of new trading systems, this synthesis helps produce stock market trading systems with unrivalled depth and accuracy. This book therefore includes a detailed review of key academic research, showing how to test existing research, how to take advantage of it by developing it into a rule-based trading system, and how to improve it with artificial intelligence techniques. The ideas and methods described in this book have been tried and tested in the heat of the market. They have been used by hedge funds to build their trading systems. Now you can use them too.
Author: Flavio Oquendo
Publisher: Springer
ISBN: 3540751327
Category : Computers
Languages : en
Pages : 356
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Book Description
This book constitutes the refereed proceedings of the First European Conference on Software Architecture, ECSA 2007, held in Aranjuez, Spain. The 12 revised long papers presented together with four short papers cover description languages and metamodels, architecture-based code generation, run-time monitoring, requirements engineering, service-oriented architectures, aspect-oriented software architectures, ontology-based approaches, autonomic systems, middleware and web services.
Author: George J. Papaioannou
Publisher: Academic Press
ISBN: 0128032839
Category : Business & Economics
Languages : en
Pages : 334
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Book Description
Underwriting Services and the New Issues Market integrates practice, theory and evidence from the global underwriting industry to present a comprehensive description and analysis of underwriting practices. After covering the regulation and mechanics of the underwriting process, it considers economic topics such as underwriting costs and compensation, the pricing of new issues, the stock price and operating performance of issuing firms, the evaluation of new issue decisions, and an analysis of the many choices issuers face in structuring new issues. Unlike other books, it systematically develops a critical perspective about underwriting practices, both in the U.S. and international markets, and with a level of detail unavailable elsewhere and an approach that reveals how financial institutions deliver underwriting services. Underwriting Services and the New Issues Market delivers an innovative and long overdue look at security issuance. Foreword by Frank Fabozzi Covers underwriting contracts and arrangements on pricing and costs Focuses on the financial consequences of the issuance decision for the firm Describes and evaluates decisions regarding the features and structure of new security offerings.
