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Traditional finance theory suggests that riskier investments should yield higher returns. Challenging this notion, anecdotal and empirical evidence suggests that highly-incented managers may take on excessive risk, leading to greater losses, while other theoretical research argues that high...
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type="main" <title type="main">ABSTRACT</title> <p>This paper decomposes the cash component of earnings and analyzes persistence characteristics and pricing implications of various subcomponents, with particular attention to changes in cash. Changes in underlying fundamentals might dictate changes in cash to new optimal...</p>
Persistent link: https://www.econbiz.de/10011038356
This surveys reviews research regarding the role of financial analysts in capital markets. The survey builds on the perspectives provided by Schipper (1991) and Brown (1993). We categorize papers published mainly since 1992 and selectively discuss aspects of these papers that address or suggest...
Persistent link: https://www.econbiz.de/10010693716