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Earnings Manipulation and Incentives in Firms

Friebel, Guido; Guriev, Sergei - C.E.P.R. Discussion Papers - 2005

We study the effect of earnings manipulation on incentives within the corporate hierarchy. When top management manipulates earnings, it must prevent information leakage from corporate insiders to the outside world. If an insider (e.g. a division manager) gains evidence about earnings...

Persistent link: https://www.econbiz.de/10005504644

Earnings Manipulation and Incentives in Firms

Friebel, Guido; Guriev, Sergei - C.E.P.R. Discussion Papers - 2005

Persistent link: https://www.econbiz.de/10005504726

Can we Automate Earnings Forecasts and Beat Analysts?

Ball, Ryan; Ghysels, Eric; Zhou, Huan - C.E.P.R. Discussion Papers - 2014

Can we design statistical models to predict corporate earnings which either perform as well as, or even better than analysts? If we can, then we might consider automating the process, and notably apply it to small and international firms which typically have either sparse or no analyst coverage....

Persistent link: https://www.econbiz.de/10011084355

Do Individual Investors Have Asymmetric Information Based On Work Experience?

Døskeland, Trond; Hvide, Hans K - C.E.P.R. Discussion Papers - 2009

Using a novel and unique dataset from Norway, we analyze whether professional proximity is associated with asymmetric information and abnormal returns. We find that individuals hold an excess weight in stocks that are professionally close. For example, after excluding holdings of own-company and...

Persistent link: https://www.econbiz.de/10005068286

The Economics of Secession – Analysing the economic impact of the collapse of the former Yugoslavia

Rodriguez-Pose, Andres; Stermsek, Marko - C.E.P.R. Discussion Papers - 2014

independence process, socioeconomic and structural controls, and the level of development – in order to assess whether a) breaking … away from the former Yugoslavia delivered an ‘independence dividend’ to the newly independent countries and whether b …) independence had a more favourable impact in richer, rather than poorer territories. The results of the analysis underline that …

Persistent link: https://www.econbiz.de/10011083216

Central Banks: Powerful, Political and Unaccountable?

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2014

Central banks’ economic and political importance has grown in advanced economies since the start of the Great Financial Crisis in 2007. An unwillingness or inability of governments to use countercyclical fiscal policy has made monetary policy the only stabilization tool in town. However, much...

Persistent link: https://www.econbiz.de/10011084413

Regions are not countries: a new approach to the border effect

Comerford, David; Mora, Rodríguez; Vicente, José - C.E.P.R. Discussion Papers - 2014

between sub-national states or regions. Using plausible counterfactual analysis, we assess the costs of independence for … independence takes on the calibrated frictions of a counterfactual independent country. If the main change that comes with the … independence of regions of larger countries is that their border with their former union partner comes to resemble a normal country …

Persistent link: https://www.econbiz.de/10011084503

How Transparent are Central Banks?

Eijffinger, Sylvester C W; Geraats, Petra M - C.E.P.R. Discussion Papers - 2002

Central bank transparency has become the topic of a lively public and academic debate on monetary policy. Unfortunately, it has been complicated by the fact that transparency is a qualitative concept that is hard to measure. This Paper proposes a comprehensive index for central bank transparency...

Persistent link: https://www.econbiz.de/10005123819