Pro forma estimation of financial statements often builds on constant ratios to sales revenue. While constant ratios may be relevant for established firms operating in predictable industries, they yield non-informative and possibly misleading information when applied to new firms, and...

We measure bond and stock conditional return volatility as a function of changes in sentiment, proxied by six indicators from the Tel Aviv Stock Exchange. We find that changes in sentiment affect conditional volatilities at different magnitudes and often in an opposite manner in the two markets,...

Environmental uncertainty has long been acknowledged in the strategy literature. Yet, Resource-Base-Theory (RBT), which argues that sustainable competitive advantage (SCA), rent, and value are generated by the company's unique resources (VRIO), rarely addresses the uncertainty emanating from...

We measure bond and stock conditional return volatility as a function of changes in sentiment, proxied by six indicators from the Tel Aviv Stock Exchange. We find that changes in sentiment affect conditional volatilities at different magnitudes and often in an opposite manner in the two markets,...