This paper introduces the PSCORE, which aggregates nine personal characteristics of chief executive officers (CEOs), to signal the quality of earnings. The PSCORE is a composite score based on publicly available data on CEOs. The study reports strong positive relationships between the PSCORE and...

Jensen (2005) describes the extremely severe consequences of being substantially overvalued. I, therefore, hypothesize that in long-term a majority of highly valued firms would wish to avoid becoming substantially overvalued. Instead of inflating earnings, my conjecture is in long-term highly...

The paper investigates investor's behaviour in the context of value–glamour investing and fundamental analysis, and provides a direct test of the confirmation bias by bringing together the evidence from several strands of literature into a well-defined framework of investor behaviour. The...