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Can Analysts Pick Stocks for the Long-Run?

Altinkilic, Oya - 2015

This paper examines post-revision return drift, or PRD, following analysts' revisions of their stock recommendations. PRD refers to the finding that the analysts' recommendation changes predict future long-term returns in the same direction as the change (i.e., upgrades are followed by positive...

Persistent link: https://www.econbiz.de/10013038161

Investment Bank Governance

Altinkilic, Oya - 2009

Employing a new method of industry tests we examine investment bank governance. Most of the findings reject the view that banks are governed suboptimally over a sample period from 1990 through 2003. CEO pay is large and significantly sensitive to stock price performance, and stock price...

Persistent link: https://www.econbiz.de/10012721747

Are Analysts Over-Optimistic Around Seasoned Equity Offerings

Hansen, Robert S. - 2009

We examine analysts' earnings forecast behavior around SEOs. We document that equity issuers are among the high growth IBES firms that typically have much higher forecast errors. Adjusting for this bias we find that earnings per share forecasts around equity offerings are not more favorable than...

Persistent link: https://www.econbiz.de/10012722271

Investment Bank Monitoring and Bonding of Security Analysts’ Research

Altinkilic, Oya - 2019

We assess investment banks' influence over the agreement between their analysts' research behavior and their clients' interests, in the post-reform era. Competing banks discipline their analysts with worse career outcomes for producing biased reports, issuing shirking reports, and for...

Persistent link: https://www.econbiz.de/10012898627

What Is the Value of Sell-Side Analysts? Evidence from Coverage Changes : A Discussion for the Journal of Accounting and Economics

Hansen, Robert S. - 2015

Li and You (this volume) study public firms' common stock return reactions to two events: when analysts' initiate coverage of the firm and when they terminate coverage. They test the returns for evidence of three sources of value added by analysts: (1) more monitoring of the firm, (2) reduced...

Persistent link: https://www.econbiz.de/10013016040

Are Analysts’ Forecasts Informative to the General Public?

Altinkilic, Oya - 2013

Contrary to the common view that analysts are important information agents, intraday returns evidence shows that announcements of analysts' forecast revisions release little new information, on average. Further cross-sectional evidence from returns around the announcements confirms that...

Persistent link: https://www.econbiz.de/10012710703

Internal Control Mechanisms and Forced CEO Turnover: An Empirical Investigation

Jagannathan, Murali - 1996

The dissertation empiricallyexamines the efficacy of internalcontrol mechanisms by analyzing 94forced turnovers of chief executiveofficers (CEOs). It seeks to answertwo primary questions: One, dogovernance-related characteristicsinfluence the promptness with whichpoorly-performing CEOs...

Persistent link: https://www.econbiz.de/10009434130

OPTIMAL BOND REFUNDING: EVIDENCE FROM THE MUNICIPAL BOND MARKET

Priyadarshi, Samaresh - 1997

<HTML><HEAD><META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=windows-1252"></HEAD><BODY><FONT FACE="Book Antiqua"><P ALIGN="JUSTIFY">This dissertation empirically examines refunding decisions employed by issuers of tax-exempt bonds. Callable bonds contain embedded call options by virtue of provisions in bond indentures that permit the issuing firm to buy back the bond at a predetermined strike price. Such an embedded American...</p></font></body></head></html>

Persistent link: https://www.econbiz.de/10009434140

An Examination of Seasoned Equity Offer Placement Effort

ALTINKILIC, Oya - 2001

AltinkiliÃ§ and Hansen (2000) show that underwriter spreads in seasoned equity offerings (SEOs) overwhelmingly reflect variable costs. This research attempts to begin filling the gap created by this result, as to what are the important constituents of the variable costs. In particular, I...

Persistent link: https://www.econbiz.de/10009433796