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We use a large pictorial sample of Chinese financial analysts to test the association between facial width-to-height ratio (fWHR) and performance in men. Financial analysts offer an ideal setting for our investigation because we can objectively track individual analysts' behaviors and...
Persistent link: https://www.econbiz.de/10012900122
The taxation of realized capital gains creates a lock-in effect, increasing an investor's expected holding period. We show that the unrealized capital gains of mutual funds are positively associated with the earnings quality of their portfolio firms. Consistent with tax-induced lock-in, the...
Persistent link: https://www.econbiz.de/10012858020
We use a large pictorial sample of Chinese financial analysts to test the association between facial width-to-height ratio (fWHR) and performance in men. Financial analysts offer an ideal setting for our investigation because we can objectively track individual analysts' behaviors and...
Persistent link: https://www.econbiz.de/10012861851
We hypothesize that the arrival of star analysts improves the performance of incumbent financial analysts while the departure of star analysts has the opposite effect. Our results consistent with this hypothesis are concentrated primarily in the tests related to star arrivals. Our findings are...
Persistent link: https://www.econbiz.de/10012870377
We hypothesize that employees prefer conservative accounting. We test our hypothesis, using the setting of the German law on codetermination. The law mandates half of the board seats to be filled by employee representatives if the firm’s number of domestic employees (DE) exceeds the threshold...
Persistent link: https://www.econbiz.de/10014361555
Shareholders' approval rates on M&A deals are informative, because they are predictive of the acquirer's post-merger operating performance. Since the passing of the deal is salient information while the specific approval rate is not, investors may misprice the detailed voting outcome due to...
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