Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors' Expectations
نویسندگان
چکیده
منابع مشابه
Expectations Management and Stock Returns
We show that proxies for firms’ incentives to manage earnings expectations toward beatable levels contain strong predictive power for earnings announcement returns. Firms with stronger incentives to manage expectations predictably underperform before, and subsequently outperform during, their expected earnings announcement months. This predictable V-shaped pattern in prices yields strategy retu...
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Barak et al. (CRYPTO’11) initiated the study of so called square-friendly applications which offer good security for keys with entropy deficiency (weak keys), for this reason being important for key derivation. The state of the art of security bounds was established by Dodis and Yu (TCC’13), by modelling ”weak” keys as distributions of high collision entropy. In this paper we answer the questio...
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ژورنال
عنوان ژورنال: The Journal of Finance
سال: 2006
ISSN: 0022-1082
DOI: 10.1111/j.1540-6261.2006.00851.x