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Underwriters and the Broken Chinese Wall : Institutional Holdings and Post-IPO Securities Litigation

Barabanov, Sergey - 2014

We examine whether underwriters have an information advantage over other institutional investors in new public companies. We focus our attention on a sample of publicly traded firms that have become the target of an IPO-related securities class action lawsuit filed under Section 11 of the 1933...

Persistent link: https://www.econbiz.de/10013063314

Four essays on investment

Schröder, David (contributor) - 2008

Persistent link: https://www.econbiz.de/10003783017

Banks as Secret Keepers

Dang, Tri Vi - 2016

Banks produce short-term debt for transactions and storing value. The value of bank money must not vary over time so agents can easily trade this debt at par. This requires that no agent finds it profitable to produce costly private information about the bank's loans. To produce safe liquidity...

Persistent link: https://www.econbiz.de/10013006295

Implied cost of capital and mutual fund performance

Hendriock, Mario - 2020

This study provides evidence for a positive association between mutual fund holdings’implied cost of capital (ICC) and future performance. Consistent with large transactioncosts of ICC-based investments impeding their exploitation and employing a ICC-basedstrategy reflecting skill,...

Persistent link: https://www.econbiz.de/10012387256

Effects of Asymmetric Information on Market Timing in the Mutual Fund Industry

S. Tchamyou, Vanessa - 2018

The paper investigates the effects of information asymmetry (between the realised return and the expected return) on market timing in the mutual fund industry. For the purpose, we use a panel of 1488 active open-end mutual funds for the period 2004-2013. We use fund-specific time-dynamic betas....

Persistent link: https://www.econbiz.de/10012924862

Effects of asymmetric information on market timing in the mutual fund industry

Tchamyou, Vanessa S.; Asongu, Simplice; Nwachukwu, … - 2018

Persistent link: https://www.econbiz.de/10011817236

Is (Systematic) Value Investing Dead?

Israel, Ronen - 2020

Value investing is the age-old investment strategy that involves buying securities that appear cheap relative to some fundamental anchor. For equity investors that anchor is typically a measure of intrinsic value linked to financial statement variables. Recently, there has been much written...

Persistent link: https://www.econbiz.de/10012839544

Is Diversification a Job Safety Net for Sell-Side Analysts?

Balashov, Vadim S. - 2019

We study sell-side analysts' motives to diversify their portfolios across industries. Despite the negative association between diversification and accuracy, over 60% of analysts cover multiple industries. We argue that analysts' choice to diversify is rooted in concerns about future job...

Persistent link: https://www.econbiz.de/10012869686

When European Analysts Disagree, Who Should You Pay Attention To?

Harvey, Campbell R. - 2010

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...

Persistent link: https://www.econbiz.de/10013146416

Economic Consequences of Idiosyncratic Information in Diversified Markets

Gao, Pingyang - 2012

While most accounting information is idiosyncratic in nature, economy-wide factors such as accounting standards affect … the quality of idiosyncratic accounting information of many firms simultaneously. We study idiosyncratic and systematic … features of accounting information by embedding a parsimonious, moral hazard problem into the framework of a multi-firm economy …

Persistent link: https://www.econbiz.de/10013110426

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