In this study, we examine the predictability of firm-specific stock price crashes using modern machine learning techniques and develop a crash prediction model that utilizes both financial ratios and textual data from the Management Discussion and Analysis (MD&A) of 10-K files. We show that...

This paper examines the real effects of weather on firm performance, using temperature as our proxy for weather. The relation between temperature and performance depends on season, industry, geographic location, and is often firm-specific. Therefore, to test this relation we adapt a measure of...

Prior studies have documented the phenomenon of rounding of analysts’ EPS forecasts in the US. From the outset, it is unclear if analysts following Singapore firms also similarly engage in the rounding of their EPS forecasts. This study examined a sample of analyst EPS forecasts of firms...

This paper examines the relation between firm-level implied volatility skew and the likelihood of extreme negative events, or crash risk. I show that volatility skew identifies which firms are likely to experience crashes, but only in short-window earnings announcement periods. The predictive...

Financial modeling and forecasting is important for current and future sales for firms and the financial actors within the firm. It doesn't only tell you where you need to go but also reminds you of where you have been. It tells you the past, current, and future numbers. With these numbers a...

We document several factors that help explain cross-sectional variations in the post-revision price drift associated with analyst forecast revisions. First, the market does not make a sufficient distinction between revisions that provide new information ("high-innovation" revisions) and...

This study examines whether crowdsourced forecasts of earnings and revenues help investors unravel bias in earnings announcement news, which is commonly derived from analyst forecasts. Our results suggest that investors, on average, understand and price the predictive signals reflected in...

In light of agency and resource dependence theories, we explored the impact of ownership patterns on the likelihood of financial distress using 57 financial institutions (FIs) listed in Dhaka Stock Exchange and 390 firm years from 2016 to 2022. This study observed that 97.94% of the firms are in...