In this paper we reviewed two findings pertinent for using asset market data to make inferences about the intangible capital stock. We presented evidence familiar from the empirical finance literature that returns are heterogeneous when firms are grouped according to their ratio of market equity...

Banks give great attention to identifying the risks of adopting FinTech and the extent of its negative impact on their business. This study aims to explore the relationship between the risks of adopting FinTech in banks and their impact on performance, where the balanced scorecard was used to...

Identifying and assessing audit risk is a key part of the audit process. Prior research documented that auditors primarily look at financial data, information, and measures when assessing the audit risk for an audit engagement. However, professional standard setters, regulators, and academic...

Implied equity duration was originally developed to analyze the sensitivity of equity prices to discount rate changes. We demonstrate that implied equity duration is also useful for analyzing the sensitivity of equity prices to pandemic shutdowns. Pandemic shutdowns primarily impact short‐term...

By decomposing analysts' forecast errors into common and idiosyncratic components, we develop a simple model aimed at explaining the relationship between forecast uncertainty and analyst dispersion. Under this framework, we propose a new measure of earnings forecast uncertainty as the sum of...

Relying on the well-established theoretical result that uncertainty has a common and an idiosyncratic component, we propose a new measure of earnings forecast uncertainty as the sum of dispersion among analysts and the variance of mean forecast errors estimated by a GARCH model. The new measure...