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Author: José M. Pérez-Díaz
Publisher:
ISBN:
Category :
Languages : en
Pages : 188
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Book Description
Author: José M. Pérez-Díaz
Publisher:
ISBN:
Category :
Languages : en
Pages : 188
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Book Description
Author: Erdem Ucar
Publisher:
ISBN:
Category :
Languages : en
Pages :
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I find stronger post-earnings announcement drift and delayed response ratio, and weaker immediate volume reaction, when the earnings announcing firm's local investors' sports mood is inconsistent with the earnings news' content (good vs. bad). This effect strengthens with firm's proximity to the location of the mood source. In my secon essay titled "Post-Earnings Announcement and Religious Holidays", I show the role of culture, proxied by religion, in financial information processing and the impact of culture on financial outcomes through investor inattention. I examine whether and how the religious holiday calendar affects investors' information processing by investigating price reactions to U.S. firms' earnings announcements that occur during Easter week. I find different patterns for short-term and delayed responses to Easter week earnings surprises. Moreover, there is a stronger immediate (delayed) reaction to good (bad) news, primarily found in less religious, predominantly Protestant areas. The results are consistent with a religion-induced investor distraction effect. The findings also show the role of religious characteristics in firms' information environment and the locality of stock prices.
Author:
Publisher:
ISBN:
Category : Finance
Languages : en
Pages : 84
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Author: Foreign Investment Service Co
Publisher:
ISBN:
Category : Business
Languages : en
Pages : 80
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Author: Bin Wang
Publisher:
ISBN:
Category :
Languages : en
Pages :
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In the first essay titled "Shareholder Coordination, Information Diffusion and Stock Returns", we show that the quality of information sharing networks linking firms' institutional investors has stock return predictability implications. First, we demonstrate that firms with high shareholder coordination experience less local comovement and less post earnings announcement drift, consistent with the notion that coordination improves firms' information environment. We then document that the stock return performance of firms with high shareholder coordination leads that of firms with low shareholder coordination, supporting the view that coordination acts as an information diffusion channel. Finally, we provide evidence consistent with the notion that the market does not readily recognize the superior quality of high shareholder coordination firms and prices it gradually through the trading of sophisticated institutional investors, thereby causing future returns to be positively associated with shareholder coordination. In the second essay titled "Shareholder Coordination and Stock Price Informativeness", we find that stock prices of firms with better information sharing networks linking institutional shareholders exhibit higher levels of idiosyncratic volatility. This positive relation between shareholder coordination and stock price informativeness is mainly driven by coordination among dedicated and independent institutions and exists even after accounting for endogeneity. We further show that institutional trading serves as an information diffusion channel that strengthens the relationship of shareholder coordination with price informativeness. Overall, our results indicate that a higher degree of shareholder coordination leads to more informative stock prices by encouraging the collection of and trading on private information.
Author: Mark Mark
Publisher: Springer Science & Business Media
ISBN: 3642606636
Category : Business & Economics
Languages : en
Pages : 429
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The pioneering study by Bowman [1980) reawakened interest in risk and return relations in the strategic management literature. We do not examine this literature here because we have elsewhere reviewed it in detail 1 and because, for the most part, these studies have been confined to ex post data. Discussions of the strategies which subjects used to direct their ex ante evaluations of risks and returns have either been omitted or else have been only indirectly inferred from ex post data. In addition, with few exceptions, this literature does not attempt to ascertain the meanings that might have been assigned by subjects to terms like "risk" and/or the "returns" with which they have been concerned. Even fewer of these studies have attempted to ascertain how the subjects implemented their definitions en of prospective strategies. Thus, tius literature may route to arriving at evaluations best be regarded as bearing only indirect relations to the present study which is concerned not only with the meanings assigned to terms like "risk" and "return" but also with how these terms are used in arriving at risk and return evaluations of proposed strategies as well as how they are measured and used, on an ex ante basis en route to seeing how these evaluations match with ex post performance. In a sense, one part of this study--i. e.
Author: Mark Tier
Publisher:
ISBN: 9780749445034
Category : Investments
Languages : en
Pages : 264
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Warren Buffett and George Soros both started with nothing - and made billion dollar fortunes solely by investing. But their careers seem as opposite as night and day. Buffett buys bargain-priced stocks and businesses for cash. Soros is renowned for his highly-leveraged, quick-footed bets in the currency markets. So what do they have in common? As Mark Tier demonstrates in this ground-breaking book, they both practise exactly the same mental habits and strategies. The same attitudes as all the other successful investors and traders Tier has studied and worked with - without exception. All of which flies in the face of academic theories and Wall Street rhetoric. And what's more, every one of these habits is something that any investor can adopt and make more money than they ever thought possible.
Author: Tom Gardner
Publisher: Simon and Schuster
ISBN: 1501158767
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
A completely revised and updated edition of an investing classic to help readers make sense of investing today, full of “solid information and advice for individual investors” (The Washington Post). Today, anyone can be an informed investor, and once you learn to tune out the hype and focus on meaningful factors, you can beat the Street. The Motley Fool Investment Guide, completely revised and updated with clear and witty explanations, deciphers all the current information—from evaluating individual stocks to creating a diverse investment portfolio. David and Tom Gardner have investing ideas for you, no matter how much time or money you have. This new edition of The Motley Fool Investment Guide is designed for today’s investor, sophisticate and novice alike, with the latest information on: —Finding high-growth stocks that will beat the market over the long term —Identifying volatile young companies that traditional valuation measures may miss —Using online sources to locate untapped wellsprings of vital information The Motley Fool rose to fame in the 1990s, based on its early recommendations of stocks such as Amazon.com, PayPal, eBay, and Starbucks. Now this revised edition is tailored to help investors tackle today’s market. “If you’ve been looking for a basic book on investing in the stock market, this is it...The Gardners help empower the amateur investor with tools and strategies to beat the pros” (Chicago Tribune).
Author: Jason Zweig
Publisher: PublicAffairs
ISBN: 1610396065
Category : Business & Economics
Languages : en
Pages : 257
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Book Description
Your Survival Guide to the Hades of Wall Street The Devil's Financial Dictionary skewers the plutocrats and bureaucrats who gave us exploding mortgages, freakish risks, and banks too big to fail. And it distills the complexities, absurdities, and pomposities of Wall Street into plain truths and aphorisms anyone can understand. An indispensable survival guide to the hostile wilderness of today's financial markets, The Devil's Financial Dictionary delivers practical insights with a scorpion's sting. It cuts through the fads and fakery of Wall Street and clears a safe path for investors between euphoria and despair. Staying out of financial purgatory has never been this fun.
Author: Jason Zweig
Publisher: Simon and Schuster
ISBN: 1416539794
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
Drawing on the latest scientific research, Jason Zweig shows what happens in your brain when you think about money and tells investors how to take practical, simple steps to avoid common mistakes and become more successful. What happens inside our brains when we think about money? Quite a lot, actually, and some of it isn’t good for our financial health. In Your Money and Your Brain, Jason Zweig explains why smart people make stupid financial decisions—and what they can do to avoid these mistakes. Zweig, a veteran financial journalist, draws on the latest research in neuroeconomics, a fascinating new discipline that combines psychology, neuroscience, and economics to better understand financial decision making. He shows why we often misunderstand risk and why we tend to be overconfident about our investment decisions. Your Money and Your Brain offers some radical new insights into investing and shows investors how to take control of the battlefield between reason and emotion. Your Money and Your Brain is as entertaining as it is enlightening. In the course of his research, Zweig visited leading neuroscience laboratories and subjected himself to numerous experiments. He blends anecdotes from these experiences with stories about investing mistakes, including confessions of stupidity from some highly successful people. Then he draws lessons and offers original practical steps that investors can take to make wiser decisions. Anyone who has ever looked back on a financial decision and said, “How could I have been so stupid?” will benefit from reading this book.
