The final working paper version: 'http://ssrn.com/abstract=2103384' http://ssrn.com/abstract=2103384.Presentation slides: "http://ssrn.com/abstract=2347428" http://ssrn.com/abstract=2347428.We provide insights into earnings quality from a survey of 169 CFOs of public companies and in-depth...

We survey 401 financial executives, and conduct in-depth interviews with an additional 20, to determine the key factors that drive decisions related to performance measurement and voluntary disclosure. The majority of firms view earnings, especially EPS, as the key metric for an external...

We recently conducted a comprehensive survey that analyzes how senior financial executives make decisions related to performance measurement and voluntary disclosure. In particular, we ask CFOs what earnings benchmarks they care about and which factors motivate executives to exercise discretion,...

We apply state-of-the-art Bayesian machine learning to test whether we can extract valuable information from analysts' recommendations of stock performance. We use a probabilistic model for independent Bayesian classifier combination that has been successfully applied in both the physical and...

We examine how broker characteristics impact the performance of their recommendations in Europe. In contrast to extant research, we focus on a non-U.S. sample that post-dates the important regulatory changes of 2003-2004. Our research has three intriguing findings. First, we show that more...

The World's best equity analysts are based in Asia – these analysts are better at forecasting stock prices than their peers in the US, Europe and the UK. In comparison with the other regions, the performance of buy recommendations made by Asia analysts is superior and consistent over time. The...

Using a sample that post-dates important regulatory changes in Europe, we show that a buy recommendation from an analyst on a “consensus sell” stock is, on average, sufficient to cause the stock to start to rise in value. Similarly, a sell recommendation on a “consensus buy” stock can...

We examine whether broker recommendations add value in Europe. In contrast to extant research, we focus on a non-U.S. sample that post-dates the important regulatory changes of 2003/4. Our analysis suggests that European brokers' recommendations outperform a standard benchmark during the...