Analysts' forecasts are often used as an information source by other investors, and therefore deviations from optimal forecasts are troublesome. Herding, which refers to imitation behavior as a consequence of individual considerations, can lead to such suboptimal forecasts and is therefore...

We examine the profitability of implementing a short term trading strategy based on predicting the error in analysts' earnings per share forecasts using publicly available information. In the 1998-2010 I/B/E/S data, the strategy of taking a long (short) position in stocks with the most...

We examine a citation-based structural influence measure for a sample of 41 accounting journals. We also determine the journals' span of influence in the accounting discipline. Next, based on observed citation patterns, we identify sub-areas in the accounting literature using both hard and soft...

Steeds meer Belgische ondernemingen kopen hun eigen aandelen in. We onderzoeken a.d.h. van een enquête waarom deze bedrijven eigen aandelen inkopen. We peilen naar de algemene houding t.o.v. de inkoopproblematiek en geven de kenmerken en bedrijfseconomische motieven van het meest recente...

The most common definition of efficient stock markets states that in such markets prices fully reflect all available information. This obviously implies that in order for a market to be deemed (semi-strongly) efficient, it should not be possible to earn abnormal returns using trading strategies...

In this paper we test whether the amount and/or quality of financial statement information affect the financial structure of Small and Medium Enterprises (SMEs). We explore this issue for Belgian SMEs because there are important differences in disclosure and audit requirements among them....