We develop and implement a rigorous analytical framework for empirically evaluating the relative performance of firm-level expected-return proxies (ERPs), based on the premise that superior proxies should closely track true expected returns both cross-sectionally and over time (that is, the proxies should exhibit lower measurementerror variances). We then compare five classes of ERPs nominated ...

A microtiter plate hybridization-based PCR-enzyme-linked immunosorbent assay (PCR-ELISA) has been used for the detection and identification of a variety of microorganisms. Here, we report the development of a PCR-ELISA for the identification of clinically relevant human rotavirus VP7 (G1 to G6, G8 to G10, and G12) and VP4 (P[4], P[6], P[8], P[9], and P[14]) genotypes. The G and P types of refer...

This study demonstrates that standard analyst coverage proxies contain information about firm-level expected returns. I decompose analyst coverage proxies into abnormal and expected components using a simple characteristic-based model and show that firms with abnormally high coverage outperform firms with abnormally low coverage by approximately 80 basis points per month. Abnormal analyst cover...

We show the cost of trading on negative news relative to positive news increases prior to earnings announcements. Our evidence suggests this asymmetry is due to financial intermediaries’ preference to reduce their exposure to risks associated with the announcements. The asymmetry creates a predictable upward bias in prices that increases pre-announcement and subsequently reverses, which confoun...

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...

This study examines the link between earnings announcement premia (i.e., higher returns in announcement periods) and changes in liquidity prior to the announcements. Motivated by prior research, we model market makers as holding positive inventories and show they asymmetrically raise costs of providing liquidity to sellers, relative to buyers, to reduce inventory risks ahead of earnings news. T...

Abstract Many financial instruments are designed with embedded leverage, such as options and leveraged exchange-traded funds (ETFs). Embedded leverage alleviates investors’ constraints, and, therefore, we hypothesize that lowers required returns. Consistent this hypothesis, find empirically ETFs provide significant amounts of leverage; increases return volatility in proportion to the higher is ...

'Dwarf stature' maize variety offers promises to withstand unfavorable growth environments of Kharif season. But, for developing such variety, dwarf stature inbred lines must be available. Here, twenty-four F3 populations of white maize were evaluated though assessment of their genetic variability, heritability, and character association for selection of dwarf stature promising lines based on y...

The present study aimed to evaluate productive characteristics and the physical, chemical sensory quality of juices elaborated from different genotypes ‘Bordô’ cv. produced in Vale do Rio Peixe-SC region, 2016/17. 11 clones evaluated were identified as: G03, G07, G08, G10, G12, G13, G15, G16, G17, G18 G19. At harvest, fruit production evaluated. mean productivity tested was 31.2 t ha-1, with a ...

The main objective of this research was to evaluate fourteen oat (Avena sativa L.) landraces and cultivars for drought tolerance using several indices. The trials were conducted both under rain-fed and irrigated conditions for three growing seasons (2001–2004) in two locations in the Central Anatolian Region of Turkey. Biplot analysis based on the Spearman’s rank correlation matrix revealed tha...