This paper examines herding, heterogeneity, and momentum trading of institutional investors in Israel across a broad variety of financial assets. While previous studies typically focus on stocks only, we examine herding patterns, heterogeneity, and momentum trading of institutional investors in...

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...

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...