This study compares the information content of funds from operation (FFO) and net income (NI) in the real estate investment trust (REIT) industry. We find that models using FFO explain more of the variance in cumulative abnormal returns around earnings announcement dates than models using NI do....

This study examines the relationship between the weather and intraday investor sentiment. Our results indicate that high temperatures, high humidity, high cloud coverage, and extreme rain negatively affect investors’ moods, whereas high winds and long sunshine durations improve their moods....

We analyze the effect of scheduled macroeconomic news on intraday market sentiment by comparing the sentiment of the announcement date with that of the non-announcement date. The announcement of the macroeconomic indicators itself does not change the market sentiment, but the direction of the...

This study examines the relationship between the weather and intraday investor sentiment. Our results indicate that high temperatures, high humidity, high cloud coverage, and extreme rain negatively affect investors’ moods, whereas high winds and long sunshine durations improve their moods....

Incentive fees exist in the hedge fund industry to solve the principal-agent problem. However, due to indirect incentives, there continues to be a misalignment between fund managers’ and investors’ interests. This paper analyzes whether investors are able to mitigate this agency problem by...