HKFE Announces Revised Margins For Futures Contracts
Please be advised that pursuant to Exchange Rule 617(d) and HKCC Rule 402, the Exchange and the Clearing House have determined that with effect from the commencement of trading on Tuesday, 16 February...
View ArticleAsset Pricing When Traders Sell Extreme Winners and Losers
This study investigates the asset pricing implications of a newly documented refinement of the disposition effect, characterized by investors being more likely to sell a security when the magnitude of...
View ArticleDisclosure Standards and the Sensitivity of Returns to Mood
We provide evidence that higher-quality disclosure standards are associated with stock returns that are less sensitive to noise driven by investors' moods. We identify return-mood sensitivity (RMS)...
View ArticleThe Fetal Origins Hypothesis in Finance: Prenatal Environment, the Gender...
We find that differences in individuals' prenatal environments explain heterogeneity in financial decisions later in life. An exogenous increase in exposure to prenatal testosterone is associated with...
View ArticleDividends as Reference Points: A Behavioral Signaling Approach
We outline a dividend signaling model that features investors who are averse to dividend cuts. Managers with strong unobservable cash earnings pay high dividends but retain enough to be likely not to...
View ArticleReputation Concerns of Independent Directors: Evidence from Individual...
This study examines the voting behavior of independent directors of public companies in China from 2004–2012. The unique data at the individual-director level overcome endogeneity in both board...
View ArticleEquity Market Misvaluation, Financing, and Investment
We estimate a dynamic investment model in which firms finance with equity, cash, or debt. Misvaluation affects equity values, and firms optimally issue and repurchase overvalued and undervalued shares....
View ArticleLooking in the Rearview Mirror: The Effect of Managers' Professional...
We track the employment history of over 9,000 managers to study the effects of professional experiences on corporate policies. Our identification strategy exploits exogenous CEO turnovers and...
View ArticlePolicy Uncertainty and Corporate Investment
Using a news-based index of policy uncertainty, we document a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with future policy and...
View ArticleCFTC Staff Provides No-Action Relief From Registration To Certain...
The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight today issued no-action relief from registration for persons located outside the United States...
View ArticleNYSE Member Firms Report Fourth-Quarter Results
New York Stock Exchange member firms that conduct business with the public reported a fourth-quarter 2015 after-tax loss of approximately $115 million and revenues of approximately $36.9 billion,...
View ArticleNot Everyone Gets A Trophy: How to Manage the Millennials, Revised and Updated
Not Everyone Gets a Trophy: How to Manage the Millennialsprovides employers with a workable game plan for turning Millennials into the stellar workforce they have the potential to be. The culmination...
View ArticleHigh Yield Debt: An Insider's Guide to the Marketplace
High Yield Debt is the one-stop resource for wealth advisors seeking an in-depth understanding of this misunderstood asset class. The high yield market provides a diverse opportunity set, including...
View ArticleCSX Corporation To Join The NASDAQ-100 Index Beginning February 22, 2016
Nasdaq (Nasdaq:NDAQ) today announced that CSX Corporation (Nasdaq:CSX), will become a component of the NASDAQ-100 Index® (Nasdaq:NDX) and the NASDAQ-100 Equal Weighted Index (Nasdaq:NDXE) prior to...
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The happiness paradox: your friends are happier than you - Complexity...
via @cxdig The happiness paradox: your friends are happier than you https://t.co/zoyT7LVDdB â moneyscience (@moneyscience) February 14, 2016
View ArticleThe Saudi Stock Exchange Announces The Publication Of The Weekly Stock Market...
The total value of shares traded for the week ending 11 February 2016 amounted to SAR 28.54 billion, decreasing by 6.62% over the previous week; while total stock market capitalization reached SAR...
View ArticleModelling intensities of order flows in a limit order book....
We propose a parametric model for the simulation of limit order books. We assume that limit orders, market orders and cancellations are submitted according to point processes with state-dependent...
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