The relative merits of schematic faces for the communication of multivariate information have been explored in a number of disciplines. Existing studies in the financial environment suggest that they may be superior to conventional methods in both their communications and decision-making...

Financial economists are unable to provide plausible explanations for Internet stock valuations during the recent asset pricing bubble consistent with market rationality. Adopting a psychoanalytic perspective, this paper argues that investors became caught up emotionally with the drama leading...

Kosowski, Timmermann, Wermers, and White (2006) find that certain growth-oriented fund managers have substantial skill but do not stipulate the particular skills that they possess. We use novel factor timing models to examine in detail the timing skills of 3,181 US equity mutual funds classified...

The purpose of this paper is to investigate to what extent mutual fund managers, as an important and representative group of professional investors, are prone to overconfidence and associated behavioural biases such as self-serving attribution. More importantly, we explore how these...

The Year in Review 2012 summarizes the offerings from the Research Foundation of CFA Institute over the past year — monographs, literature reviews, workshop presentations, and other relevant material

This study explores whether sell-side analysts recognize firms' going-concern (GC) difficulties, and whether and how they report going-concern uncertainties to investors. We show that analysts are aware of impending firm going-concern problems on the basis of their tendency to downgrade their...