We examine the effect of media competition on analyst forecast properties in an international setting using 113,436 firm-year observations from 32 countries spanning 2000 through 2012. We find that firms in countries with stronger media competition enjoy more accurate, less optimistically...

Conditional quantile prediction involves estimating/predicting the quantile of a response random variable conditioned on observed covariates. The existing literature assumes the availability of independent and identically distributed (i.i.d.) samples of both the covariates and the response...

We examine whether income tax disclosures under International Financial Reporting Standards (IFRS) are useful for predicting changes in future earnings and cash flows, and whether such disclosures are more or less useful than disclosures made under U.S. Generally Accepted Accounting Principles...

We show that the call-put implied volatility spread (IVS) outperforms many well-known predictors of the U.S. equity premium at return horizons up to six months over the period from 1996:1 to 2017:12. The predictive ability of the IVS is unrelated to the dividend yield and is useful in explaining...