Our original research that has been published in peer-reviewed academic and practitioner journals.
We survey research in accounting anomalies and suggest a road map for research into the forecasting benefits of accounting information.
Our research presents a plausible set of models that help identify market risk across the global financial system and monitor the evolution of market risk across time.
Sell-side equity analyst recommendations perform better on companies whose executive officers attended the same school, though Reg FD reduced outperformance in U.S.
In this paper, we first investigate the impact of costly equity dilution as a method to deal with illiquidity, and then we consider two alternative mechanisms: cash balances and loan commitments.
Networking among venture-capital (VC) firms appears to restrict entry into local VC markets, thereby improving incumbents’ bargaining power over entrepreneurs.
Asset bubbles tend to share certain elements, including financial innovation and leverage; these should guide how markets are structured and regulated.
Respected academics propose incentives to encourage regulated financial firms to limit systemic risk taking and to reduce moral hazard.
How end user demand affects option pricing when dealers cannot perfectly hedge. New theory and unique data.
We study the relationship between firms’ investment spending and cash flow.
Retail investor flows into mutual funds provide a contrarian signal for the underlying stocks, related to the value effect.