We compare the long-term stock price and operating performance of firms that are followed by analysts to those that are not over the period of 1994-2005. While analysts are skillful in identifying quality firms for coverage, the market is efficient in pricing both covered and neglected stocks...

We examine the underpricing of U.S. firms that went public globally (Global IPOs) between 1986 and 2003. Our results suggest that, when compared to their peers that went public at home, U.S. issuers did not enjoy an advantage in issue costs from their global offerings. Their offers experienced...

Summary This study compares interindustry wages differentials in the U.S. and Germany using large microdata samples from wage surveys in 1979, 1985, and 1987. In contrast to previous studies, which found correlations of wage differentials in Germany and the U.S. of .85 and .95, we find less...