Download or read book written by Frank K. Reilly and published by 中信出版社. This book was released on 2002 with total page 1284 pages. Available in PDF, EPUB and Kindle. Book excerpt: 本书向您介绍了投资分析与组合管理。
Download or read book Earnings Quality written by Jennifer Francis and published by Now Publishers Inc. This book was released on 2008 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Download or read book Financial Analysis Planning And Forecasting Theory And Application Third Edition written by Cheng Few Lee and published by World Scientific Publishing Company. This book was released on 2016-08-10 with total page 1390 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an introduction-level text that reviews, discusses, and integrates both theoretical and practical corporate analysis and planning. The field can be divided into five parts: (1) Information and Methodology for Financial Analysis; (2) Alternative Finance Theories and Cost of Capital; (3) Capital Budgeting and Leasing Decisions; (4) Corporate Policies and their Interrelationships; (5) Financial Planning and Forecasting.The theories used and discussed in this book can be grouped into the following classical theoretical areas of corporate finance: (1) Pre-M&M Theory, (2) M&M Theory, (3) CAPM, and (4) Option Pricing Theory (OPT). The interrelationships among these theories are carefully analyzed. Real world examples are used to enrich the learning experience; and alternative planning and forecasting models are used to show how the interdisciplinary approach can be used to make meaningful financial-management decisions.In this third edition, we have extensively updated and expanded the topics of financial analysis, planning and forecasting. New chapters were added, and some chapters combined to present a holistic view of the subject and much of the data revised and updated.
Download or read book The Handbook of Equity Market Anomalies written by Leonard Zacks and published by John Wiley & Sons. This book was released on 2011-08-24 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment pioneer Len Zacks presents the latest academic research on how to beat the market using equity anomalies The Handbook of Equity Market Anomalies organizes and summarizes research carried out by hundreds of finance and accounting professors over the last twenty years to identify and measure equity market inefficiencies and provides self-directed individual investors with a framework for incorporating the results of this research into their own investment processes. Edited by Len Zacks, CEO of Zacks Investment Research, and written by leading professors who have performed groundbreaking research on specific anomalies, this book succinctly summarizes the most important anomalies that savvy investors have used for decades to beat the market. Some of the anomalies addressed include the accrual anomaly, net stock anomalies, fundamental anomalies, estimate revisions, changes in and levels of broker recommendations, earnings-per-share surprises, insider trading, price momentum and technical analysis, value and size anomalies, and several seasonal anomalies. This reliable resource also provides insights on how to best use the various anomalies in both market neutral and in long investor portfolios. A treasure trove of investment research and wisdom, the book will save you literally thousands of hours by distilling the essence of twenty years of academic research into eleven clear chapters and providing the framework and conviction to develop market-beating strategies. Strips the academic jargon from the research and highlights the actual returns generated by the anomalies, and documented in the academic literature Provides a theoretical framework within which to understand the concepts of risk adjusted returns and market inefficiencies Anomalies are selected by Len Zacks, a pioneer in the field of investing As the founder of Zacks Investment Research, Len Zacks pioneered the concept of the earnings-per-share surprise in 1982 and developed the Zacks Rank, one of the first anomaly-based stock selection tools. Today, his firm manages U.S. equities for individual and institutional investors and provides investment software and investment data to all types of investors. Now, with his new book, he shows you what it takes to build a quant process to outperform an index based on academically documented market inefficiencies and anomalies.
Download or read book Soft Information in Earnings Announcements written by Elizabeth Demers and published by . This book was released on 2008 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether the "soft" information contained in the text of management's quarterly earnings press releases is incrementally informative over the company's reported "hard" earnings news. We use Diction, a textual-analysis program, to extract various dimensions of managerial net optimism from more than 20,000 corporate earnings announcements over the period 1998 to 2006 and document that unanticipated net optimism in managers' language affects announcement period abnormal returns and predicts post-earnings announcement drift. We find that it takes longer for the market to understand the implications of soft information than those of hard information. We also find that the market response varies by firm size, turnover, media and analyst coverage, and the extent to which the standard accounting model captures the underlying economics of the firm. We also show that the second moment of soft information, the level of certainty in the text, is an important determinant of contemporaneous idiosyncratic volatility, and it predicts future idiosyncratic volatility.
Download or read book Testing Semi Strong Form Efficiency and the PEAD Anomaly in ATHEX An Event Study based on Annual Earnings Announcements written by and published by Universal-Publishers. This book was released on with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book STOCK PRICE REACTIONS TO EARNINGS ANNOUNCEMENTS A written by VICTOR L. BERNARD and published by . This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Research in Accounting Regulation written by Gary Previts and published by Elsevier. This book was released on 2002-01-23 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in Accounting Regulation
Download or read book The C F A Digest written by Institute of Chartered Financial Analysts and published by . This book was released on 2002 with total page 882 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modern Developments in Investment Management written by James Hirsch Lorie and published by . This book was released on 1978 with total page 780 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Three Tensions written by Dominic Dodd and published by John Wiley & Sons. This book was released on 2007-07-13 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: A manager argued that he could either increase his business unit's margins or its sales, but not both. His chief executive reminded him of the time when people lived in mud huts and faced the stark choice between light and heat: punch a hole in the side of your hut and you let the daylight in but also the cold, or block up all the openings and you stay warm but sit in darkness. The invention of glass made it possible to overcome the dilemma—to let in the light but not the cold. How then, he asked his manager, will you resolve your dilemma between no sales or no margin improvement? Where is the glass? —From the Introduction "To win, leaders have to push their companies beyond trade-offs. They must find strong growth at premium returns, not one or the other. They must deliver great results today and build for the future at the same time, not push for earnings that can't be sustained. The Three Tensions is about having both at the same time, more of the time. I recommend it to any manager serious about winning." —James Kilts, former chairman, CEO, and president, The Gillette Company "Leadership can't be just about telling people what you expect of them. The Three Tensions sets out a range of helpful tactics leaders can adopt to really engage their people in the search for good performance on many fronts." —Andrew Cosslett, chief executive, InterContinental Hotels Group PLC "The Three Tensions speaks to fundamental management issues, perhaps the most fundamental. Managers looking for new ideas on how to improve performance will find it very stimulating. I found my own thinking very much influenced by it." —John Roberts, professor of economics, strategic management, and international business, Stanford Business School
Download or read book Information Management and Big Data written by Juan Antonio Lossio-Ventura and published by Springer. This book was released on 2017-03-06 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the Second Annual International Symposium on Information Management and Big Data, SIMBig 2015, held in Cusco, Peru, in September 2015, and of the Third Annual International Symposium on Information Management and Big Data, SIMBig 2016, held in Cusco, Peru, in September 2016. The 11 revised full papers presented were carefully reviewed and selected from 70 submissions. The papers address issues such as Data Science, Big Data, Data Mining, Natural Language Processing, Bio NLP, Text Mining, Information Retrieval, Machine Learning, Semantic Web, Ontologies, Web Mining, Knowledge Representation and Linked Open Data, Social Networks, Social Web and Web Science, Information Visualization, OLAP, Data Warehousing, Business Intelligence, Spatiotemporal Data, Health Care, Agent-based Systems, Reasoning and Logic, Constraints, Satisfiability, and Search.
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book Semi Strong Form Efficiency of Indian Stock Market in Post Reform Period written by Dr Madhuchhanda Lahiri and published by Walnut Publication. This book was released on 2021-06-26 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Efficient Market Hypothesis is an elegant edifice that provides a basis on which the efficiency tests of a stock market are performed at three distinct levels: weak - form, semi-strong form and strong - form. This magnificent edifice of EMH rests on the Random Walk Theory which contends that all price changes reflect a random departure from previous prices. The weak form of the hypothesis states that prices efficiently reflect all information contained in the past series of stock prices whereas the semi-strong form efficiency contends that security prices factor in publicly available information in the market and that the price changes to new equilibrium levels are reflections of that information. The book checks the weak-form and semi-strong form efficiency of the Indian stock market by examining the behaviour of the stock prices in the Indian stock market after the introduction of the various financial sector reforms using different methodologies. By using NSE data over the period 1998-2005 - the period which witnessed some major crises, scams, intense capital market activities and introduction of many new financial instruments - the study examines the information contents of historical stock price data, quarterly earnings announcements, and stock splits. The book also checks for the presence of the Day-of- the- Week Effect in the Indian stock market and enquires whether the introduction of the various instruments and policy changes have made the Indian stock market weak-form and semi-strong form efficient i.e., whether the efficiency of the stock market has been restored in the post-reforms period compared to the situation in the pre-reform period.
Download or read book Investment Analysis Portfolio Management written by Frank K. Reilly and published by Cengage AU. This book was released on 2019-11-19 with total page 1062 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first Asia-Pacific edition of Reilly/Brown’s Investment Analysis and Portfolio Management builds on the authors’ strong reputations for combining solid theory with practical application and has been developed especially for courses across the Australia, New Zealand, and Asia-Pacific regions. The real-world illustrations and hands-on activities enhance an already rigourous, empirical approach to topics such as investment instruments, capital markets, behavioural finance, hedge funds, and international investment. The text also emphasises how investment practice and theory are influenced by globalisation.
Download or read book Investments written by Charles P. Jones and published by John Wiley & Sons. This book was released on 2009-10-26 with total page 1281 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s economy, it’s critical for investors to have a strong understanding of the strategies needed to make the best decisions. Jones arms them with the most up-to-date information in the field while offering a proper balance between investment opportunities, techniques and analytics. He includes new discussions on the rapid rise and interest in exchange-traded funds, the new NYSE-Euronext market, the merger of the NYSE and Amex, and more. Expanded coverage is also presented in behavioral finance and the bond markets. In addition, investors will benefit from the updated problems and questions that really make them think of the most effective moves before acting.
Download or read book An Examination of the systematic Post announcement Drift Anomaly Employing a Relative Measure of Earnings Surprises written by Myung Chul Chung and published by . This book was released on 1991 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
