Objective –This study intends to examine the relationship between investment efficiency and financial information excellence. The study is also examining the moderating impact of sustainability on the relation between excellence in financial information and investment productivity. Methodology –The cumulative measurements are 668 firm-years and are made up of 257 subsamples of underinvestment a...

The purpose of this study was to investigate the role of non-financial information analysis and risk-return analysis along with financial information in increasing the selected banks and financial institutions of Tehran Stock Exchange portfolio efficiency. To evaluate the efficiency of the portfolio, the Treynor's ratio was used and attempted to determine the Treynor's ratio of the selected opt...

This study asks whether investors learn differently from gains versus losses, whether learning is better or worse when people are actively investing in a security or passively observing its payoffs, and whether there are personal characteristics that drive learning performance. Experimental evidence shows that the ability to learn from financial information is worse in the loss domain, especial...

We examine whether rational investor responses to information uncertainty (IU) explain properties of and returns to several financial anomalies (post-earnings announcement drift, value-glamour, and accruals anomalies). Consistent with a rational learning explanation, we find that: (1) higher IU signals have more muted initial market reactions; (2) extreme anomaly portfolios are characterized by...

We outline a spreadsheet-based system for visualization of real-time financial information. Our system permits the user to define arithmetic and presentation relationships amongst the various cells of the spreadsheet. The cells contain primitives that can be numbers, text, images, functions, and graphics. Presenting financial information in this format allows its intended clients, the financial...

We present a novel synthesis of Fisher information and asset pricing theory that yields a practical method for reconstructing the probability density implicit in security prices. The Fisher information approach to these inverse problems transforms the search for a probability density into the solution of a differential equation for which a substantial collection of numerical methods exist. We i...

Public disclosures can level information asymmetry in financial markets by removing informed traders’ advantage, or can exacerbate asymmetry by further increasing these traders’ knowledge of the firm. This study finds evidence of the latter phenomenon in earnings conference calls, where management releases new information, and financial analysts on the call immediately respond and question mana...

Empirical evidence shows word-of-mouth communication has real effects on trading patterns in financial markets. On top of that, the social network through which the information conveys also plays a crucial role. We propose a framework that allows informed traders to directly and truthfully communicate information in four major social interaction structures represented by circle, tree, star and ...

With Decision X/3, A, paragraph 8(c) "invites parties, relevant organisations and initiatives [...] to submit information concerning innovative financial mechanisms that have potential to generate new and additional financial resources as well as possible problems that could undermine achievement of the Convention's three objectives [...]". This submission focuses on experiences with offset pro...