Accounting profession is traditional profession and accounting rules and principles have been established and are the same for many years. However, globalization of business, stronger regulations and numerous technological solutions and innovations are not bypassing the accounting profession...

Accounting profession is traditional profession and accounting rules and principles have been established and are the same for many years. However, globalization of business, stronger regulations and numerous technological solutions and innovations are not bypassing the accounting profession...

This study analyzes the impact of regional economic conditions on stock returns. I identify all U.S. states that are economically relevant for a firm through textual analysis of annual reports and construct a novel proxy for regional economic activity. Using this proxy, I find that economic...

Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...

The paper studies the effects of anticipated earnings announcements on liquidity before the earnings announcement day, utilizing full limit order book data. We find very convincing supportive evidence of deteriorating liquidity due to the increase in information asymmetry, which is in line with...

We study the role of stress induced by time constraints on investors’ decision making. The need to perform contemporaneous tasks and external interference such as arriving unexpectedly late to work, might exacerbate acute stress and its impact on decision making. Accumulated laboratory...