This paper reports evidence on cross-border accounting information transfers associated with profit warning announcements. Using a sample of firms from 29 European countries, we find that negative earnings surprises disclosed by firms in one country affect investors’ perceptions of comparable...

Recent research uses the degree of stock returns co-movement as a measure of the quality of a country’s information environment. It has been argued that stronger property rights, better corporate governance regimes and more efficient enforcement mechanisms lead to prices incorporating more...

A new class of linear discrimination rules, designed for problems with many correlated variables, is proposed. This proposal tries to incorporate the most important patterns revealed by the empirical correlations and accurately approximate the optimal Bayes rule as the number of variables...

Under-coverage is one of the most common problems of sampling frames. To reduce the impact of coverage error on survey estimates several frames can be combined in order to achieve a complete (or nearly complete) coverage of the target population. Multiple frame estimators have been developed to...

The use of the Internet in grocery retailing created the need for new business models, but it did not bring radical changes to consumer behaviour. Despite adopting revolutionary business models in their early days, online grocery firms did not manage to survive or reach profitability without...

This article takes the metaphor of myopia to explain the most limited vision of brand, understood as the identifying sign of a product. As brand is a sign, we turn to semiotics, the science of signs, in order to apply a model which broadens the concept of brand to three dimensions: that of the...

In this paper, we empirically investigate two economic issues (1) the factors that affect the primary market spread on non-U.S. asset-backed securities and (2) whether investors rely solely on credit ratings and ignore other credit-related factors. We do so by using a panel-data fixed-effects...

Although property markets represent a large proportion of total wealth in developed countries, the real-estate derivatives markets are still lagging behind in volume of trading and liquidity. Over the last few years there has been increased activity in developing derivative instruments that can...

Due to imperfect transparency and costly auditing, trust is an essential component of financial intermediation. In this paper we study a sample of 444 due diligence (DD) reports from a major hedge fund DD firm. A routine feature of due diligence is an assessment of integrity. We find that...

We study the market for CEO talent in public U.S. firms during the years 1993-2005. CEO talent pools are not homogenous across firms and industries. About 68% of new CEOs are former employees of their own firms (“insider CEOsâ€) and the rest come from outside the firm (“outsider...