Uncovering the determinants of earnings is an important and well-researched area in labor economics. In studies of race or sex discrimination, it is imperative to use statistical methods that control for various factors so that the researcher can obtain an unbiased measure of discrimination. Another area that has attracted interest is the interaction of wages and union membership. Again, contro...

We exploit individual-level administrative data for whole populations of UK university students for the leaving cohorts of 1985-1993 (together with that of 1998) to investigate the in‡uence of degree performance on graduate occupational earnings. We …nd that there is a signi…cant premium associated with a good performance at university. We also …nd that this premium increased between 1985/6 and...

Casella for invaluable guidance during my program. I would also like to thank Professors Peter Wilson, Vic Bernard and Tom Stober for their willingness to answer questions and offer advice. Financial support from the Arthur Andersen Foundation, the Social Sciences and Humanities Research Council of Canada, and the UW/SSHRC grant program during various stages of this work was greatly appreciated...

This paper examines the impact of Corporate Governance and CEO turnover on the writeoff decision, as well as the motivation for companies to take write-offs. Companies with poor monitoring mechanisms take write-offs due to endogenous factors Conversely, companies with strong monitoring mechanisms take write-offs because of exogenous factors, like negative industry shocks. These ”good write-offs...

Mobile App stores and marketplaces allow sellers and developers to monetize their Apps mainly through the desktop-based download point, or by using the mobile owner's credit card. We would like to turn monetization focus on the fact that there is already another payment channel that should not be overseen, which is fruitfully used through the premium SMSs. In this work, we propose new metrics a...

We construct term structures for expected earnings growth by indexing analyst forecasts according to their maturity. Growth stocks, large stocks, and past losers have relatively steep convex earnings term structures in comparison to value stocks, small stocks, and past winners respectively. These initial earnings term structures overestimate (underestimate) the expected earnings growth of growt...

Recent theoretical research in finance argues that the value premium is due to a systematic risk factor attributable to costly reversibility. In testing the costly reversibility hypotheses, the study recognises that there are a number of other possible explanations that need to be controlled for. Behavioural finance literature suggests that the value premium may be driven by errors in expectati...

In standard cross-sectional wage regressions, married men appear to earn 10 to 20 percent more than comparable never-married men. One proposed explanation for this male marriage premium is that men may be selected into marriage on the basis of characteristics valued by employers as well as by spouses or because they earn high wages. This paper examines the selection hypothesis using a “natural ...

Abstract Dividend payments are firm events on a recurring and predictable basis. High returns in the period between announcement-date ex-dividend date main driver for so-called dividend month premium, which positive abnormal months corporations predicted to issue payments. In our empirical analysis of German stock market, we find robust is particularly high stocks with surprise. Knowing dates a...

We investigate whether the daily betas of individual stocks vary with release firm-specific news in an emerging market. Using intraday prices all traded on Borsa Istanbul, Turkey over period 2005-2013, we find evidence that average market increase significantly from two weeks before earnings announcement day, and then revert to their levels after announcement. The is greater for larger, positiv...