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作者：Kim, Yongtae; Song, Minsup
作者单位：Santa Clara University; Sogang University
摘要：This study examines the stock-price reactions to analyst forecast revisions around earnings announcements to test whether preannouncement forecasts reflect analysts' private information or piggybacking on confounding events and news. We find that management earnings forecasts influence the timing and precision of analyst forecasts. More importantly, evidence suggests that prior studies' finding of weaker (stronger) stock-price responses to forecast revisions in the period immediately after (be...
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作者：Ye, Shengqi; Aydin, Goker; Hu, Shanshan
作者单位：University of Texas System; University of Texas Dallas; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Consider a retailer using sponsored search marketing together with dynamic pricing. The retailer's bid on a search keyword affects the retailer's rank among the search results. The higher the rank, the higher the customer traffic and the customers' willingness to pay will be. Thus, the question arises: When a retailer bids higher to attract more customers, should the accompanying price also decrease (to strengthen the bid's effect on demand) or increase (to take advantage of higher willingness...
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作者：Marquardt, Carol; Zur, Emanuel
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University System of Maryland; University of Maryland College Park
摘要：We examine the role of target firms' accounting quality in the merger and acquisition process. We predict that target firm accounting quality will be positively associated with (1) the likelihood that the deal will be structured as a negotiation rather than as an auction, (2) the speed with which the deal reaches final resolution, and (3) the likelihood that the proposed deal is ultimately completed. Our empirical evidence is consistent with these predictions. These results complement and exte...
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作者：Stewart, Neil; Reimers, Stian; Harris, Adam J. L.
作者单位：University of Warwick; City St Georges, University of London; University of London; University College London
摘要：We present a theoretical account of the origin of the shapes of utility, probability weighting, and temporal discounting functions. In an experimental test of the theory, we systematically change the shape of revealed utility, weighting, and discounting functions by manipulating the distribution of monies, probabilities, and delays in the choices used to elicit them. The data demonstrate that there is no stable mapping between attribute values and their subjective equivalents. Expected and dis...
