The sustainability report publishes financial, social, and environmental information. contains mostly qualitative information some quantitative data. This research aims to identify the elements in a that are needed by investors making investment decisions. tests form of Corporate Social Responsibility fund amounts disclosed companies their reports. benchmark for investor reaction is measured us...

Abstract Does a firm's layoff announcement elicit negative or positive reaction from its stock investors? The extant empirical evidence on this question is mixed. authors' meta‐analysis of 34,594 announcements taken 126 samples featured in 78 studies reports that the average investor significantly (effect size −0.549). Next, authors use signaling theory—specifically, characteristics signal, sig...

The paper deals with the problem of optimal behavior of an investor in the option market with own opinion on market properties. We tell the difference between investor's and market probability distribution functions of future prices of underlier. In this case, the investor might gain in the average income. If the investor, however, is guided by the presently popular Value-at-Risk criterion in t...

The performance and stability of the part time investor strategy in the ten player minority game was investigated. For trials ranging in length from 10 rounds to 10 000 rounds, a parameter value was found that was able to provide a significant improvement in global wealth to the case where all agents picked at random. The part time investor strategy was found to be stable once it had become est...

T he Internet is changing how information is delivered to investors and the ways in which investors can act on that information. It has lowered both the fixed and marginal costs of producing financial services, thus enabling newer, smaller companies to challenge established providers of these services. On-line brokerage firms, such as E*Trade and Ameritrade, are among the most vivid and success...

Recent empirical research in finance has uncovered two families of pervasive regularities: underreaction of stock prices to news such as earnings announcements, and overreaction of stock prices to a series of good or bad news. In this paper, we present a parsimonious model of investor sentiment, or of how investors form beliefs, which is consistent with the empirical findings. The model is base...