With an easy access to share information and data nowadays, many investors worldwide are interested in predicting stock prices. The prediction of stock prices using data mining techniques applied to technical variables has been widely researched but not much research to date has been done in applying data mining techniques to both technical and fundamental information. This paper is based on a ...

We study the role of industry conditions in the internal and external labor market for CEOs in a sample of over 60,000 firm-years from 1990-2007. Future job prospects of CEOs who separate from an employer are dependent on relative-to-industry stock performance, but not on industry stock performance, suggesting that new employers filter out industry stock returns in their evaluation of manageria...

Human decision making by professionals trading daily in the stock market can be a daunting task. It includes decisions on whether to keep on investing or to exit a market subject to huge price swings, and how to price in news or rumors attributed to a specific stock. The question then arises how professional traders, who specialize in daily buying and selling large amounts of a given stock, kno...

Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...

market crash is a phenomenon which occurs in stock markets occasionally and leads to loss of the investors’ wealth and assets in a relatively short period of time. therefore, attempts for prediction of this phenomenon are of much importance for the investors, financial institutions and government. to this date, numerous and varied studies have been carried out for predicting and modeling  stock...

This paper analyzes the performance consequences of employee stock options for a broad sample of firms during the period 1996-1999. Our tests are performed separately for the top-5 executives and all other employees. We estimate the expected level of option incentives based on each firm’s economic characteristics. We examine the association between the unexpected level of option incentives and ...

We present a multiperiod agency model of stock-based executive compensation in a speculative stock market, where investors have heterogeneous beliefs and stock prices may deviate from underlying fundamentals and include a speculative option component. This component arises from the option to sell the stock in the future to potentially overoptimistic investors. We show that optimal compensation ...

My thesis examines the operating performance and financial statement disclosures of firms that restructure their business strategy, structure or operations and, as a result, record restructuring charges in their financial statements. Chapter One examines three questions related to corporate restructuring and firm performance. First, do firms that take restructuring charges experience improvemen...

CONTENTS 1. Introduction 2. Measurement and methodology 2.1 The definition of fixed capital stock 2.2 The perpetual inventory method 2.3 The lifetime and age of capital stock 3. Privatisation and the institutional classification of capital stock 4. Growth in real fixed capital stock 5. The composition of fixed capital stock 5.1 Fixed capital stock by kind of economic activity 5.2 Fixed capital ...

Proponents of compensation plans based on economic profits argue that these plans control for deficiencies in stock-based or earnings-based bonus plans and thereby better align managers’ and shareholders’ interests. We examine whether compensation plans based on economic profits do in fact produce better investment decisions. We use a sample of 51 firms adopting economic profit plans between 19...