Showing 1 - 10 of 19
We use a proprietary dataset from a large Swiss retail bank to examine the impact of financial advice on individual investors’ stock trading performance and their behavioral biases. Our data allows us to classify each individual trade as either advised or independent and to compare them in a...
Persistent link: https://www.econbiz.de/10011154583
This paper investigates the problem of time stamp errors in the IBES database. We show that IBES did not store the original announcement date of both recommendations and forecasts on U.S. stocks until 2001 and even later for other countries. The announcement date in IBES is often effectively the...
Persistent link: https://www.econbiz.de/10010713841
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A focal point in strategic and regulatory debates about the pros and cons of diversification among financial institutions continues to be the issue of economies of scope in financial intermediation. In this paper, we summarize the theoretical research on the value of diversification in financial...
Persistent link: https://www.econbiz.de/10011096787
We analyze the valuation effect of board industry experience and channels through which industry experience of outside directors affects firm value. Firms with more experienced outside directors are valued at a premium compared to firms with less experienced outside directors. Additional tests...
Persistent link: https://www.econbiz.de/10011154581
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We study financial reporting and corporate governance in 218 companies accused of price fixing. These firms engage in evasive financial reporting strategies, including earnings smoothing, segment reclassification, and restatements. In corporate governance, cartel firms favor outside directors...
Persistent link: https://www.econbiz.de/10010969328
This impressive Handbook presents the quantitative techniques that are commonly employed in empirical finance research together with real-world, state-of-the-art research examples.
Persistent link: https://www.econbiz.de/10011176059
The recent financial crisis has raised several questions with respect to the corporate governance of financial institutions. This paper investigates whether risk management-related corporate governance mechanisms, such as for example the presence of a chief risk officer (CRO) in a bank’s...
Persistent link: https://www.econbiz.de/10010580915
Our paper is a further contribution to the still very small empirical literature on the effects of competition on managerial incentive schemes. Based on a theoretical model that incorporates both strategic interaction between firms and a principal agent relationship, we investigate the...
Persistent link: https://www.econbiz.de/10005730938