Financial Reporting Quality Investment Horizon And Institutional Investor Trading Strategies
DOWNLOAD
Download Financial Reporting Quality Investment Horizon And Institutional Investor Trading Strategies PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Financial Reporting Quality Investment Horizon And Institutional Investor Trading Strategies book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Financial Reporting Quality Investment Horizon And Institutional Investor Trading Strategies
DOWNLOAD
Author : Brian J. Bushee
language : en
Publisher:
Release Date : 2018
Financial Reporting Quality Investment Horizon And Institutional Investor Trading Strategies written by Brian J. Bushee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This paper provides evidence that financial reporting quality (FRQ) influences the holding costs of trading strategies. While prior research has focused on the benefits of investment strategies based on poor FRQ (i.e., larger returns due to a greater amount of private information), we examine whether poor FRQ imposes greater holding costs on certain trading strategies. We show that poor FRQ motivates sophisticated investors with short-term horizons to tilt their portfolios away from value stocks, whose returns are contingent on investors revising their beliefs about firm fundamental value, and toward past winner stocks whose future returns are realized more quickly. Poor FRQ also increases the length of time that institutions maintain large positions in value stocks. Our results imply that mis-valuations can be persistent when arbitrageurs perceive high holding costs from poor financial quality, even when they can see through the opaque financial disclosures.
Financial Reporting Opacity And Informed Trading By International Institutional Investors
DOWNLOAD
Author : Mark G. Maffett
language : en
Publisher:
Release Date : 2016
Financial Reporting Opacity And Informed Trading By International Institutional Investors written by Mark G. Maffett and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Using cross-country data on trading by international mutual funds, I find that firms with more opaque information environments, as captured by firm- and country-level measures of the availability of financial reporting information, experience more privately informed trading by institutional investors. The association between firm-level opacity and informed trading is most pronounced where country-level disclosure infrastructures are less developed and for those investors for whom the incentives and opportunities to acquire private information are greatest. A difference-in-differences analysis of the returns earned by institutions in opaque stocks suggests that this information advantage is economically significant.
Esg And Responsible Institutional Investing Around The World A Critical Review
DOWNLOAD
Author : Pedro Matos
language : en
Publisher: CFA Institute Research Foundation
Release Date : 2020-05-29
Esg And Responsible Institutional Investing Around The World A Critical Review written by Pedro Matos and has been published by CFA Institute Research Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-29 with Business & Economics categories.
This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Economic Effects Of Transparency In International Equity Markets
DOWNLOAD
Author : Mark Lang
language : en
Publisher: Now Publishers Inc
Release Date : 2011
Economic Effects Of Transparency In International Equity Markets written by Mark Lang and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
This monograph reviews the existing accounting, finance and economics literature on the economic effects of transparency in international equity markets, considers aspects of an international setting that make it an interesting environment for investigating these effects, and suggests directions for future research
Knowledge Management For Corporate Social Responsibility
DOWNLOAD
Author : Martín-de Castro, Gregorio
language : en
Publisher: IGI Global
Release Date : 2020-09-04
Knowledge Management For Corporate Social Responsibility written by Martín-de Castro, Gregorio and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-04 with Business & Economics categories.
In a changing and complex environment currently facing the main challenges of sustainable development, effective management of knowledge, intellectual assets, organizational learning, and talent management are the basis for social innovation and new ways of competition. In this sense, management and business practice are incorporating social and environmental demands made by all types of stakeholders to improve business decisions and strategies. Knowledge Management for Corporate Social Responsibility provides research exploring the theoretical and practical aspects of linking firm profitability, social development, and natural environment in respect to business management practices. Featuring coverage on a broad range of topics such as employer branding, intellectual capital, and organizational performance, this book is ideally designed for business professionals, small business owners, entrepreneurs, academicians, researchers, and business students.
Institutional Investors In Global Capital Markets
DOWNLOAD
Author : Narjess Boubakri
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-09-27
Institutional Investors In Global Capital Markets written by Narjess Boubakri and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-27 with Business & Economics categories.
Examines various issues concerning the strategies of institutional investors, the role of institutional investors in corporate governance, their impact on local and international capital markets, as well as the emergence of sovereign and other asset management funds and their interactions with micro and macro economic and market environments.
Portfolio Preferences Of Foreign Institutional Investors
DOWNLOAD
Author : Reena Aggarwal
language : en
Publisher: World Bank Publications
Release Date : 2003
Portfolio Preferences Of Foreign Institutional Investors written by Reena Aggarwal and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Foreign exchange categories.
Investment Philosophies
DOWNLOAD
Author : Aswath Damodaran
language : en
Publisher: John Wiley & Sons
Release Date : 2012-06-22
Investment Philosophies written by Aswath Damodaran and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-22 with Business & Economics categories.
The guide for investors who want a better understanding of investment strategies that have stood the test of time This thoroughly revised and updated edition of Investment Philosophies covers different investment philosophies and reveal the beliefs that underlie each one, the evidence on whether the strategies that arise from the philosophy actually produce results, and what an investor needs to bring to the table to make the philosophy work. The book covers a wealth of strategies including indexing, passive and activist value investing, growth investing, chart/technical analysis, market timing, arbitrage, and many more investment philosophies. Presents the tools needed to understand portfolio management and the variety of strategies available to achieve investment success Explores the process of creating and managing a portfolio Shows readers how to profit like successful value growth index investors Aswath Damodaran is a well-known academic and practitioner in finance who is an expert on different approaches to valuation and investment This vital resource examines various investing philosophies and provides you with helpful online resources and tools to fully investigate each investment philosophy and assess whether it is a philosophy that is appropriate for you.
Capital Choices
DOWNLOAD
Author : Michael E. Porter
language : en
Publisher:
Release Date : 1994-12-01
Capital Choices written by Michael E. Porter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-12-01 with categories.
Payout Policy
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2007
Payout Policy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Corporations categories.
Dividend policy continues to be among the premier unsolved puzzles in finance. A number of theories have been advanced to explain dividend policy. This e-book briefly reviews the principal theories of payout policy and dividend policy and summarizes the empirical evidence on these theories. Empirical evidence is equivocal and the search for new explanation for dividends continues.