I provide evidence that investors systematically overweight analyst forecasts by demonstrating that prices do not fully reflect the predictable component of analyst forecast errors. This evidence conflicts with conclusions in prior research relying on traditional approaches to predicting analyst...

Coal continues to be an important fuel in many countries' energy mix and, despite the climate change concerns, it is likely to maintain this position for the next decades. In this paper a numerical model is developed to investigate the evolution of the international market for steam coal, the...

This study examines whether conference calls provide additional information to analysts. For a large sample of conference calls, hosted by German firms between 2004 and 2007, our results show that conference calls improve analysts' ability to forecast future earnings accurately. This suggests...

What is the value of hazardous weather warnings? To answer this question, we focus on the avalanche bulletin for Switzerland issued by the WSL Institute for Snow and Avalanche Research (SLF). We take a survey-based, non-market valuation approach to estimating the value of hypothetical...

I analyze Embedded Value (EV) reporting by firms with life insurance operations to assess the impact of unregulated financial reporting on transparency and to examine the institutional characteristics that promote unregulated reporting. Under EV accounting the present value of future cash flows...

In this paper I consider the forecasting of the post age 60 mortality rates. Realistic and robust forecast of mortality curves are important for pricing the risk associated with aggregate mortality improvements over time, the so-called longevity risk. On the basis of the Renshaw and Haberman...

The paper I am proposing will evaluate the prospects for a commercial nuclear power resurgence in the United States. On the one hand, several factors seem to favor a nuclear revival: the rise of climate change as an issue, dramatic swings in the price of oil and natural gas, streamlined...

In this paper, we examine analyst annual earnings forecast accuracy and dispersion for firms undertaking SEOs. Specifically, we evaluate the difference in accuracy between new and old affiliate analysts when there is a change in the lead underwriter for the SEO. We also study the change of...