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The Effects of Current and Expanded Analyst Ownership Disclosure on Nonprofessional Investors’ Judgments and Decision-Making

Marley, Robert - 2015

In two experiments, this study examines the effects of current and expanded analyst ownership disclosure on nonprofessional investors' confidence in analyst recommendations and on the amount invested by nonprofessionals. Experiment one examines how nonprofessional investors interpret analyst...

Persistent link: https://www.econbiz.de/10013030398

Window dressing in mutual funds

Agarwal, Vikas; Gay, Gerald D.; Ling, Leng - 2014

We provide a rationale for window dressing where investors respond to conflicting signals of managerial ability inferred from a fund's performance and disclosed portfolio holdings. We contend that window dressers take a risky bet on their performance during a reporting delay period, which...

Persistent link: https://www.econbiz.de/10010363240

Window dressing in mutual funds

Agarwal, Vikas; Gay, Gerald D.; Ling, Leng - 2013 - First Version: March 31, 2011, This version: July 26, 2013

We provide a rationale for window dressing where investors respond to conflicting signals of managerial ability inferred from a fund's performance and its disclosed portfolio holdings. We contend that window dressers take a risky bet on their performance during a reporting delay period, which...

Persistent link: https://www.econbiz.de/10009784848

How Do Disclosure Repetition and Interactivity Influence Investors’ Judgments?

Brown, Nerissa C. - 2020

Recent regulatory amendments aimed at modernizing disclosures and enhancing their usefulness focus on repetition and interactivity within firms' disclosure filings. We use two experiments to provide evidence on the effects of disclosure repetition (repeating of information in the filing) and...

Persistent link: https://www.econbiz.de/10012839102

How Does Using a Mobile Device Change Investors’ Reactions to Firm Disclosures?

Grant, Stephanie M. - 2020

I examine how characteristics of investors' information access tools change investors' reactions to firm disclosures. I examine my research question in the context of information choice (i.e., allowing investors to choose the order of information and sections to read within a disclosure) and...

Persistent link: https://www.econbiz.de/10012854150

How Disaggregated Forecasts Influence Investor Response to Subsequent Earnings Announcements

Clor-Proell, Shana - 2018

Firms often issue disaggregated earnings forecasts, and prior research reveals benefits to doing so. However, we hypothesize and experimentally find that the benefits of disaggregated forecasts do not necessarily carry over to the time of actual earnings announcements. Rather, disaggregated...

Persistent link: https://www.econbiz.de/10012933212

Do Investors Prefer Female CEOs in Activist-Targeted Firms? The Role of CEO Gender, Shareholder Activism Type, and Earnings Guidance Disclosure

Jackson, Scott C.; Agoglia, Christopher P.; Piercey, M. … - 2022

This study addresses concerns from the SEC and examines the trend of shareholder activism and its impact on financial players. Motivated by prior research that finds female CEOs are more likely to be targeted by shareholder activism, we examine how the nature of shareholder activism...

Persistent link: https://www.econbiz.de/10013292515

How Does Using a Mobile Device Change Investors’ Reactions to Firm Disclosures?

Grant, Stephanie M. - 2020

Persistent link: https://www.econbiz.de/10012831704

Scapegoating : Uncontrollable Factors Disclosure and Disposition Effect

Huang, Mengjie; Martin, Xiumin; Tang, Yi; Xie, Yuan - 2022

We hypothesize and find that uncontrollable factors disclosure (UFD) in earnings conference calls mitigates investors' cognitive dissonance, defined as the state of mental imbalance that results from conflicting attitudes, beliefs or behaviors (Akerlof and Dickens 1982). That is, investors react...

Persistent link: https://www.econbiz.de/10013297696

The Effect of Environmental Preferences on Investor Responses to ESG Disclosure

Emiris, Marina; Harris, Joanna; Koulischer, Francois - 2023

Sustainable Finance Disclosure Regulation (SFDR). In a model of asset allocation with heterogeneous environmental preferences, we … show that the introduction of disclosure regulation leads to an increase in flows to ESG funds, in particular when … regulation, and that the development of these funds was largest in countries with stronger environmental preferences …

Persistent link: https://www.econbiz.de/10014354488