The corporate information environment develops endogenously as a consequence of
information asymmetries and agency problems between investors, entrepreneurs, and …

This survey reviews the literature on sell-side analysts' forecasts and their implications for
asset pricing. We review the literature on the supply and demand forces shaping analysts' …

Psychological evidence indicates that decision quality declines after an extensive session of
decision-making, a phenomenon known as decision fatigue. We study whether decision …

Online product reviews provided by consumers who previously purchased products have
become a major information source for consumers and marketers regarding product quality …

Statement of Financial Accounting Standards No. 157 (FAS No. 157), Fair Value
Measurements, prioritizes the source of information used in fair value measurements into …

This paper develops a taxonomy of research examining the role of financial analysts in
capital markets. The paper builds on the perspectives provided by Schipper [Schipper …

We find that managers with military experience pursue less tax avoidance than other
managers and pay an estimated 1– 2 million more in corporate taxes per firm-year. These …

Prior research suggests that investors' response to analyst forecast revisions increases with
the analyst's forecast accuracy. We extend this research by examining whether investors …

This study tests whether nai¨ ve trading by individual investors, or some class of individual
investors, causes post-earnings announcement drift (PEAD). Inconsistent with the individual …

We show that the personal traits of analysts, as revealed by their political donations,
influence their forecasting behavior and stock prices. Analysts who contribute primarily to the …