Many markets that have traditionally relied on collocation of buyers, sellers, and products have introduced electronic channels. Although these electronic channels may provide benefits to buyers and sellers by lowering the transaction costs of participating in the market, there are trade-offs...

We test whether a bias exists in analyst recommendations for firms that file for bankruptcy during 1995–2001. We fail to find overoptimism in analyst recommendations, including those of affiliated analysts. Our multivariate analysis of the market reaction to changes in analyst recommendations...

Electrical power generation is changing dramatically across the world because of the need to reduce greenhouse gas emissions and to introduce mixed energy sources. The power network faces great challenges in transmission and distribution to meet demand with unpredictable daily and seasonal...

type="main" <title type="main">ABSTRACT</title> <p>We demonstrate that time stamps reported in I/B/E/S for analysts’ recommendations released during trading hours are systematically delayed. Using newswire-reported time stamps, we find 30-minute returns of 1.83% (−2.10%) for upgrades (downgrades), but for this subset of...</p>