ABSTRACT Short‐term trade ideas are a component of analyst research highly valued by institutional investors. Using novel and comprehensive database, we find that have stock price impact at least as large recommendation target changes. Trade based on expectations future events more informative than those identifying incomplete incorporation past information in prices. Analysts with better access to firm's management produce ideas. Institutional investors the direction Investors following can...

Sell-side quantitative equity research analysts (Quants) conduct econometric analyses of stock returns to uncover market anomalies and assist institutional clients with selection. We present novel evidence that establishes their role in helping mutual fund discover capital markets evolve toward greater pricing efficiency. Specifically, we find access Quants make recommendations trades reveal knowledge anomalous cross-sectional return predictability. More importantly, predictability is weaker...

Washington policy research analysts (WAs) monitor political developments and produce to interpret the impact of these events. We find institutional clients channel more commissions brokerages providing commission-allocating generate superior returns on their politically sensitive trades. that WA reports are associated with significant price volume reactions. Finally, we sell-side access issue stock recommendations stocks. These effects particularly acute during periods high uncertainty....

After the global financial crisis in 2008–2009, transition from LIBOR to risk-free rates (RFRs) began. As heads into end game, term RFRs have become one of most critical tasks guarantee success transition. In this review article, we present different methodologies publishing RFRs, compare their features, and raise potential concerns. Specifically, display practical examples that demonstrate challenges brought up by referencing RFRs. We conclude “engineered” do not fully achieve goals At end,...

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We examine the impact of short selling activities on firms' adoption share repurchase strategies. Using China’s A-share market data, we find that firms under pressure prefer open repurchases, with no significant implementation over-the-counter (OTC) agreement repurchases. By analyzing medium- and long-term responses operational performance, identify repurchases as indicative short-sighted corporate behavior, contrasting informed conduct exhibited by short-selling traders. Conversely, OTC...

Jack Kerouac (1922Kerouac ( -1969) ) is regarded as the pioneer and spokesman of Beat Generation, which emerged in late 1940s early 1950s.His masterpiece On Road honored bible Generation.Since its publication, critical responses to novel have polarized, from high praise fierce denunciation, for protagonists lead a wandering, unconstrained life, disobeying authority, denying values moral standards elites so establish counter-elite essentiality.The present paper aims make an analysis feature...

In the process of building party, party management is one important contents them.In socio-economic development, increasingly stringent requirements building, administrative tasks grassroots cadres thus become very difficult.Combined with actual situation, raise grass-roots understanding, analysis arising in ordinary course Party construction problems, and how to better manage work status quo put forward their views Countermeasures.

Out of Africa by Baroness K. Blixen-Finecke

Abstract Following the Global Settlement, analysts extensively use a top pick designation allowing for greater granularity of information among buy recommended stocks, but conflicts interest can potentially influence this designation. Examining novel sample picks, we find that calendar-time portfolio picks generates an abnormal performance 17.6% per year. Top have investment value than do recommendations and alternative analyst strategies. Both institutional retail investors trade in...